Calyon was mandated lead arranger and bookrunner for a senior credit facility in favour of ACS Infrastructure. The transaction of EUR 781 million on 10 years was conducted for the support of the I-595 express way project. Based on a club deal, this transaction includes 11 other banks. Calyon commitment comes to USD 97 million. This financing was 20% oversubscribed, resulting in a final allocation that was well below our approval level.

The project, sponsored by ACS, involves the reconstruction and operation of 10.5 miles of existing expressway in Florida under a 35-year concession agreement with FDOT, an agency of the AAA / Aa1 rated State of Florida. The project debt also includes a USD 678 million 34-year subordinated TIFIA (Transportation Infrastructure Finance and Innovation Act) loan from the U.S. Department of Transportation. The transaction is the first major US P3 deal to close since 2007.

The existing roadway, which serves commuter traffic in the Greater Ft. Lauderdale, currently suffers from heavy congestion for many hours of the day. The project will reconstruct the existing mainline and frontage roads with the addition of three reversible express lanes.

ACS (“Actividades de construccion y servicios”) is a worldwide reference in the construction and services activities. Founded in 1983, the group is located in Spain and employs more than 140,000 persons.