A consortium of Vinci and DIF Infrastructure III has closed the financing for the Toulouse-Mirail University PPP project in France.

The project consists of the Design-Build-Finance-Operate-Maintain (DBFOM) of several campus and faculty buildings for the Toulouse-Mirail University based in Toulouse, south-western France, and is part of the "Plan Campus", the scheme launched in 2007 by the French government to renovate universities nationwide.

DIF Infrastructure III holds a 51% stake in the project, with Vinci holding the remaining 49%. The project agreement has a fixed tenor of 30 years and project completion is expected in December 2016. Long term debt financing is provided by Japanese banks SMBC and BTMU up to €108 million and by French Caisse des Dépôts et Consignations (Direction des Fonds d'Epargne) up to €36 million.

DIF Infrastructure III is currently bidding on several other primary University PPP Projects part of the Plan Campus and is preferred bidder on the Lyon Mérieux University project for which closing is expected this summer.

Source: DIF