KfW IPEX-Bank participates in PPP financing for Afsluitdijk Project in the Netherlands
Main (ots)
- PPP financing makes major European project possible
- Total investment volume: approx. EUR 830 million / share
provided by KfW IPEX-Bank: approx. EUR 124 millionKfW IPEX-Bank is financing the reinforcement of the Afsluitdijk Project in the Netherlands in cooperation with four other commercial banks and the European Investment Bank (EIB). Within the framework of a complex PPP financing structure, the banks are together providing borrowed funds of around EUR 815 million for the major project. KfW IPEX-Bank is making some EUR 124 million available. The total investment volume is valued at around EUR 830 million.
"We are very pleased to be a part of this crucial infrastructure project," commented Andreas Ufer, member of the Management Board of KfW IPEX-Bank. "In the Netherlands and other European countries, PPP is a proven and successful procurement option - thanks to the cooperation between public and private project stakeholders, measures of this kind can be implemented in an economically sustainable way."
By agreeing to provide the necessary funds, the bank consortium consisting of the European Investment Bank, KfW IPEX-Bank, DekaBank Deutsche Girozentrale, Landesbank Baden-Württemberg, Belfius Bank NV/SA and Coöperatieve Rabobank U.A. support the project sponsors: The Levvel consortium shareholders and equity providers are BAM PPP (46%), Van Oord (46%) and Rebel (8%), together with joint venture partners Aberdeen Standard Investments, APG Group, PGGM and EPICo. The design, construction and long term maintenance will be completed by BAM Infra and Van Oord Nederland. Rebel is the consortium financial advisor. Other consultants involved include legal advisers De Brauw Blackstone Westbroek and BDO LLP as model auditor. Nauta Dutilh (legal), Atkins (technical) and AON Global Risk Consulting (insurance) advised the lenders.
Supporting PPP projects for the development and preservation of social and business infrastructure in Germany and Europe is part of KfW IPEX-Bank's core business. Over the past few years, the bank has been involved in a number of PPP projects, both in Germany and other European countries such as France, the United Kingdom and the Netherlands.
Please find more information about the Afsluitdijk Project here: http://ots.de/xNvKjM
Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Antje.Schlagenhaufer@kfw.de
Tel. 069 7431-4009, Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de