A11 Belgium motorway is first EIB Project Bond Initiative funded project

Belgium’s €577.9 million A11 motorway Public-Private Partnership (PPP) project has become the first greenfield infrastructure works to receive credit enhancement under the European Commission and EIB (European Investment Bank) Project Bond Initiative. The financing, secured by an EIB letter of credit, is part of the test phase for the 2012 Brussels-launched Project Bond Initiative aiming to invigorate capital market financing for infrastructure projects. The A11 motorway is due for completion in 2018. The
March 27, 2014 Read time: 2 mins
Belgium’s €577.9 million A11 motorway Public-Private Partnership (PPP) project has become the first greenfield infrastructure works to receive credit enhancement under the 2465 European Commission and EIB (1054 European Investment Bank) Project Bond Initiative.

The financing, secured by an EIB letter of credit, is part of the test phase for the 2012 Brussels-launched Project Bond Initiative aiming to invigorate capital market financing for infrastructure projects. The A11 motorway is due for completion in 2018. The project is one of the six major 'missing links' in the Flemish road network and the largest DBFM (Design-Build-Finance-Maintain) road project to date in Flanders.

Prior to the completion of the landmark credit enhancement Deal, the EIB was advised by global law firm White & Case.

“Advising the EIB on its innovative product enabled us to combine our experience of successfully delivering project bonds and strength in advising on landmark PPP projects,” said White & Case partner Caroline Miller Smith.

The White & Case team was led by London-based partners Caroline Miller Smith and Gavin McLean with support from associate Kamran Ahmad (London), counsel Ferdinand Brughmans and associate Serkan Alhan (both Brussels).
Road Structures

For more information on companies in this article

Related Content

  • Colombia’s ANI agency is driving forward the 4G PPP programme
    April 4, 2016
    Andrade Moreno is a man on a mission. The head of Colombia's infrastructure agency ANI explains how the organisation is giving foreign companies increasing confidence to invest time and money in the country. David Arminas reports Change, especially when it touches the highest levels of South American business and politics, can bring with it personal danger. Luis Fernando Andrade Moreno, president of Colombia's National Infrastructure Agency - ANI - was aware of this when he took on the role in 2011. B
    Read More
  • Serbia to tender for Nis-Pristina motorway by end of 2018
    March 6, 2018
    The first tender for construction of the Nis-Pristina motorway could be called by the end of his year, according to Zorana Mihajlovic, Serbia’s minister of construction. Value of the first phase of the project is estimated at €240 million. Around 20% of the amount will be financed from aid, while the remainder will be secured by the EBRD (European Bank for Reconstruction and Development) and the EIB (European Investment Bank).
    Read More
  • Corridor 10 project in Serbia may be delayed
    April 2, 2013
    A series of challenges are now facing the project to construct Serbia’s key Corridor 10 highway. The EU has asked the Serbian Government for details of the priority plan and deadlines for the completion of the Corridor 10 highway. At present three sections of Corridor 10 are at risk, due to delays and financing issues. These are the Ciflik-Pirot stretch, the Bancarevo tunnel and the Vladicin Han section. According to Serbian roads company Koridori Srbije, the construction schedule will be set by the end of
    Read More
  • Highway developments to boost east-west transport
    February 16, 2012
    Huge highway developments are being planned and carried out to further improve East-West transport, with Central Asia a key region as Patrick Smith reports
    Read More

Highlighted Content