The ALBEA consortium, which comprises NGE, Fayat, TIIC and OFI Infravia, has closed financing for the A150 toll road project in Normandy, France. The debt margins on the project, which went from credit approval stage to close in three months, highlight the project’s resilience in the face of the difficulties in the Eurozone.
Project costs are in excess of Eu200 million ($255.9 million) and include an equity contribution and a government subsidy, in addition to long-term project debt. The gearing on the project is around 60%, which was kept...
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