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Long tenor for Dutch Military Museum PPP
15 June 2012
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[Heijmans]
[Rijksgebouwendienst]
Heijmans has closed the financing for the Eu88 million ($110.8 million) Dutch National Military Museum PPP. The deal is significant because the deal's Eu65 million in non-recourse debt has a 24-year tenor, an impressive feat given the scarcity of long-term funding for European PPPs.
The project entails the construction of a new National Military Museum at the former military base of Soesterberg under a 25-year design, build, finance, maintain and operate concession. In March 2011, Rijksgebouwendienst, the government building agency, shortlisted three bidders – BAM PPP, Heijmans and Volker-Wessels, and then settled...
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