BAM refinances two PPP projects in Belgium
BAM PPP has announced it has refinanced two PPP projects in Belgium: a prison in East Flanders and a student housing project in Gent.
First, BAM PPP PGGM Infrastructure Coöperatie has refinanced the Beveren Prison project. The project originally reached financial close in 2011 with ABN AMRO Bank, Belfius Bank and KBC providing a 25 year project loan.
Two of the existing lenders, Belfius Bank and KBC have restated and amended the existing loan for an amount of approximately €90 million (US$94 million) with both improved margins and terms.
BAM PPP also successfully refinanced the second project, the Kantienberg student homes. The project originally reached financial close in 2009 with Bank Nederlandse Gemeenten and NIBC Bank providing a 33 year project loan.
Belfius Bank has provided a new project loan of approximately €18 million (US$19 million), replacing the original soft mini perm financing structure, with both improved margins and terms.
These refinancing transactions reflect the investment strategies of both BAM PPP and the joint venture with PGGM to add value to the current investment portfolio.
The legal advisors to the sponsors were Linklaters with the financial advisory services provided by BAM PPP.
Country news
-
-
November 22, 2016
Wezembeek-Oppem tenders public buildings PPP
Wezembeek-Oppem, a municipality in the Belgian province of Flemish Brabant, 10 kilometres east of the centre of Brussels, has launched a tender process to seek a private partner for the development of public buildings. Read more -
October 18, 2016
Megaproject 797: Three bidders shortlisted for Liège tram PPP
Three bidders have been shortlisted for for the development of the Liège Tramway public private partnership (PPP) project in Belgium. Read more -
September 26, 2016
Simmons & Simmons announces the expansion of their Brussels office with PPP hire
Simmons & Simmons has announced the expansion of their Brussels office with a team of Belgian lawyers including the appointment of a new partner and of counsel. Read more -
September 06, 2016
Tender for car park launched in Anderlecht
The Brussels Regional Public Service (SPRB) has launched a tender process to seek developers for a car park in Anderlecht, one of the municipalities of the Brussels-Capital Region (Belgium). Read more -
August 29, 2016
Eiffage strengthens its international position by the acquisition of the Chris Vuylsteke group in the Benelux
Eiffage has announced it is to acquire, via Eiffage Benelux, a subsidiary of its Construction branch, the Chris Vuylsteke group, a company specialized in construction and property development based in Meulebeke, West Flanders (Belgium). Read more
