Financing announced for French aquatics center
Landesbank Saar has announced it has provided financing for a French aquatics center.
Landesbank Saar financed a partnership agreement relating to the renovation, extension and maintenance of an aquatics centre located in the Communauté de Communes Bretagne Romantique in Brittany. This financing amounts to approximately €6.5 million (US$7 million).
The project aims to modernize and transform the Combourg pool, built in 1967, into an aquatic center. The future building will accommodate a sports pool with 5 corridors, a paddling pool, a training and learning pool and a wellness area with sauna and jacuzzi. The center, with an approximate investment of €14.8 million (US$15.9 million), is expected to open in 2018.
Watson Farley & Williams (WFW) advised Landesbank Saar on the drafting and negotiation of all finance and security documents as well as on all legal aspects of the partnership agreement and the project documents.
The Communauté de Communes Bretagne Romantique was advised by Chamming’s Avocat and C5P, and the Contractor was advised by a public law team of DS Avocats.
Landesbank Saar offers debt financing for Public Private Partnership (PPP) projects in France on regular grounds, mainly focussing on public tender offers for small and medium sized regional projects (mainly infrastructure, building, energy).
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