The sponsors on the project are the Dutch Infrastructure Fund (DIF), Boskalis, Hochtief and VolkerWessels. On the senior debt side, BTMU, Crédit Agricole, KfW and NordLB all upped their existing commitments and replaced other existing banks in the process. EIB and LBBW are also part of the refinancing deal and their original investment remains unchanged. This was a rare project, debt being refinanced during construction to make the most of favourable market conditions.
We were delighted to provide model audit service on this major European road transaction from our teams based in London and Delhi.
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