Via Gateway Thüringen has reached financial close on Federal Motorway A9 (Germany)

The project involves the operation and maintenance of 46.5 km motorway section located between the Lederhose interchange and the border between Thuringia and Bavaria, as well as the widening of the motorway in each direction over a 19 km stretch with refurbishment or replacement of existing structures.

This is the first project of the ‘A-Model’ programme with a payment mechanism which is availability based rather than toll based. The A9 connects Berlin with Northern Bavaria and Munich and is deemed of special importance due to the fact that it represents the major North - South connector between the Eastern Federal States and Southern Germany and the gateway to Austria and Italy.

A three year construction period will commence on 1 October 2011 and will be led by Eurovia and Royal BAM Group subsidiary Wayss & Freytag Ingenieurbau.

The total investment will be €220 million. Project financing includes €120 million in bank debt which will be provided by a consortium of banks consisting of KfW IPEX and BBVA, with a maximum maturity of 19.5 years, a €88 million subsidy from the Federal Government and equity contributed by the shareholders, amounting to approximately €12 million.

Consultants include: Deutsche Bank as Sponsor’s Financial Advisor, Hogan Lovells as Sponsor’s Legal Advisor and Clifford Chance as Lender’s Legal Advisor.

Further information:

• 
  BAM PPP: Vicki Harris, communications manager,+44 (0)141 779 8634, v.harris@bamppp.com;
• 
  Royal BAM Group:
  
  Arno C. Pronk, +31 (0)30 659 86 21, ac.pronk@bamgroep.nl (press) or
  
  Patrick R.E. Snippe, + 31 (0)30 659 87 07, p.snippe@bamgroep.nl (analysts).

AP/pr/11/0180e