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DEAL ANALYSIS: Henri Konan Bedie toll bridge
26 July 2012
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[bouygues]
[harith]
[paidf]
[total]
[mrg]
[cote d'ivoire]
Socoprim has closed the $206.9 million debt financing for its Henri Konan Bedie toll bridge PPP in Cote d'Ivoire. The Eu270 million ($326.3 million) project is the first in Africa to use a minimum revenue guarantee and is the first part of a new programme of privately funded infrastructure developments from the government of Cote d’Ivoire. The bridge is also the first PPP to close in the country this century, after taking 16 years to close.
The Henri Konan Bedie toll bridge, named after the country’s former leader who was ousted from power in a military coup in 1999, was originally tendered as a concession by the government in 1996. Bouygues, the project company’s lead sponsor, with a 49% stake, was awarded the 30-year build-operate-transfer concession in 1997. Additional equity investors in Socoprim are the Harith-managed Pan African Infrastructure Development Fund (22%), Total (4%), the government...
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