Calyon acted prominently in the USD 325 million Paris Sorbonne University Abu Dhabi ("PSUAD") campus’ project under the sponsorship of Mubadala Development PJSC. The project is for the development of a new campus for the French-speaking higher education institution (La Sorbonne) that will admit up to 2,000 students.

Calyon played a leading role as financial advisor, mandated lead arranger, facility agent, off-shore security agent, off-shore account bank and hedging co-ordinator. “Calyon was selected as financial advisor by Mubadala based on our strong track-record in infrastructure financing and advisory as well as our close relationship with Mubadala” says Olivier Jaunet, Managing Director, Calyon Infrastructure, EMEAEurope, the Middle East and Africa.

The USD 325 million financing has a 20-year maturity, which is a challenge in itself in the current market. It has been oversubscribed by five leading international banks (Calyon, BTMU, SMBC, RBS and BNPP) and one local bank (FGB).

The success of this precedent-setting transaction further confirmed Calyon’s leadership in infrastructure financing and in the GCC region. “This transaction will help us play a leading role in the emerging infrastructure market in the MENAMiddle East and North Africa region” says Olivier Jaunet

Besides, the transaction reinforces Calyon’s position as one of Mubadala's core relationship banks. “Calyon started its direct relationship with Mubadala in 2006 when Calyon Gulf participated in a Club deal revolver in order for Calyon to have priority access to the advisory and financing activities related to the company’s deal flow" adds Bernard Weymuller, Managing Director, Senior Banker, Calyon Gulf. "Since then, Calyon has made significant inroads into the company and our relationship and deal flow now encompasses many different Calyon’s “core competencies’’ and sectors: energy, aerospace, telecom, project finance and structured finance, M&A advisory, capital markets and risk management….Mubadala views Calyon as one of its core international banks and we are consulted on an ongoing basis on the different projects Mubadala is involved in.”

The PSUAD project is the first true infrastructure Public-Private Partnership (PPPPublic-Private Partnership describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies.) financing in the Gulf Region which sets an important benchmark for the development of future UAE social infrastructure projects:

• first time an Abu Dhabi Government-owned institution is being banked on long tenor on the strength and transparency of budgetary allocations: no direct guarantee from the Government,
• first transaction in UAE social infrastructure financing where international banks are taking performance risk on local contracting entities,
• no completion guarantee from the sponsor / shareholder,
• risk allocation as per the usual PPP/ Private Finance Initiative (PFIPrivate Finance Initiative - the most successful and prolific form of PPP to date. Used to deliver services only after rigorous assessment has shown that it will provide better value for money compared to traditional public sector investment.) framework.

This explains the "Middle East PPP deal of the year" title awarded by Project Finance Magazine.

Mubadala Development Company (Mubadala) is the wholly-owned principal investment and development vehicle of the Government of the Emirate of Abu Dhabi. Mubadala is one of the principal actors in the economic and industrial development of Abu Dhabi and the UAE.