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: Cesar-Guajira road project awarded to El Condor
    May 15, 2015
    The Colombian government has awarded the contract for construction of the Cesar-Guajira road to Construcciones El Condor, sole bidder for the work. The deal is a US$165 million public-private partnership (PPP) aiming to improve connectivity with the country’s Caribbean coastal departments. The 350km road will connect San Roque with Cuestecita, take four years to build and employ around 1,400 workers. Colombian Vice President, German Vargas Lleras, said five projects have been approved under the PPP sc
    Read More
  • Recession impact report on worldwide infrastructure spending
    May 10, 2012
    A new report examines how aggressive government belt-tightening and financial market deleveraging restrained worldwide infrastructure investments for 2012 and probably for the next five years. In the US, for instance, Infrastructure2012: Spotlight on Leadership, released by the Urban Land Institute (ULI) and Ernst & Young, says that constrained public budgets and a growing recognition at the local level of the importance of infrastructure, combined with lack of action at the federal level, are causing state
    Read More
  • Czech republic needs more investment in road safety
    July 11, 2012
    In 2001, the European Commission set the ambitious goal of halving the deaths on Europe's roads by 2010. While significant progress has been made over the years, it is clear that only a few countries are expected to reach this target. More needs to be done! The Brussels Programme Centre of the International Road Federation (IRF BPC®), as a signatory to the European Road Safety Charter, has over the years been actively involved in the efforts to improve road safety and reduce fatalities.
    Read More
  • Expectations for growth of UAE infrastucture
    February 9, 2012
    The INTERMAT Middle East event is being launched at a pivotal time of major infrastructure development in the region. As with most sectors, the highways industry has not had a fantastic 18 months in the Gulf. Not only has the recession impacted the delivery of projects across the board, GCC Governments' attention have been switching increasingly to rail, as plans to roll out a Gulf-wide rail system gather steam. GCC countries will invest over US$119.6 billion in infrastructure projects over the next decade
    Read More

Highlighted Content