Communiqué conjoint des partenaires de l’opération : financial closing of A88 motorway project
The financial closing of the A88 motorway concession project was achieved on 25 April 2008.
The concession for the design, construction, financing, maintenance and operation of the motorway was awarded in January of this year to a consortium consisting of Caisse des Dépôts et Consignations, AXA Investment Managers, NGE, Demathieu&Bard, Egis Projects, Malet, Spie Batignolles and Valérian for a period of 55 years.
The concession-holding company Alicorne will be responsible for financing the motorway construction work that remains to be carried out between Argentan and Falaise, as well as schemes to upgrade the existing Falaise-Caen road to motorway standard. This section will complete an essential link between Caen/Cherbourg and central and southern France. The A88 forms part of the trans-European transport network (TEN).
When the concession was awarded, the Argentan-Sées section of the motorway was already open.
The financing in the form of a EUR 282 million bank loan was arranged by DEPFA BANK (EUR 84.75 million), Dexia Crédit Local (EUR 84.75 million) and the European Investment Bank (EUR 102.5 million).
DEPFA BANK (finance) and Gide Loyrette Nouel (legal) participated in this operation as consultants to the consortium. Allen&Overy (legal) advised the lenders.