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Back-ended debt and maintenance costs may hit A130
19 June 2012
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[laing]
[essex]
[back-ended]
CountyRoute, the Laing-owned project company responsible for the operation of the A130 in Essex, could face difficulties in servicing its debt from 2020 onwards. The project faces a spike in maintenance costs towards the end of the concession in order to ensure that it hands back the road in the condition specified in its contract.
In October 1999, CountyRoute closed a £103 million construction financing for the concession with Barclays, Dresdner and Dai-Ichi Kangyo. The project involved the construction...
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