Crédit Agricole CIB closes its first public-private partnership (PPP) in the Norwegian market
The RV555 Motorway project is the fifth PPP project procured by the Norwegian Public Roads Administration, involving the development of approximately 40km of road, a four-lane bridge of about 900 meters and 4 new road twin-tube tunnels. The project is viewed as essential infrastructure for the region’s continued and sustainable growth, aiming to improve the safety and regularity of transport in the country by replacing existing outdated and saturated infrastructure.
The project reached financial close on 16th March 2022 with a financing package of c. NOK 8 billion. It is a multi-source financing package comprised of a combination of short-term facilities (equity bridge loan and milestone bridge facilities) and long-term debt facilities (ECA covered debt, ECA direct lending and commercial bank facilities).
Crédit Agricole CIB supported Macquarie, SK Engineering & Construction (SK E&C) and Webuild acting as Mandated Leader Arranger, Hedge Provider, Account Bank and Agent Bank. This transaction confirms Crédit Agricole CIB’s position as a leading global infrastructure house and reinforces its expertise in the road PPP sector.
Crédit Agricole CIB recognised Best Project Finance House and mentioned in winning deals for The Asset’s Awards 2022
Record number of deals recognised by The Banker in the Deals of the Year Awards
Crédit Agricole CIB recognised as ESG Financing House of the Year 2021 at the IFR Awards 2021