MetLife has announced that a consortium of its affiliates and third-party investor clients has provided nearly US$145 million in infrastructure financing to Copenhagen Airports Denmark ApS, a holding company that owns a majority stake in Copenhagen Airport A/S.
The airport is the largest in Scandinavia and a major hub for northern European travel.
In this financing, MetLife and third-party investor clients advised by MetLife Investment Management purchased senior secured debt issued by Copenhagen Airports Denmark. The MetLife-led consortium was a leading investor in this transaction, which totaled US$360 million.
MetLife and its third-party clients were the only investors to provide financing in three currencies and to purchase the senior note with the longest maturity, due in 2025.
John Tanyeri, managing director and head of infrastructure investment for MetLife in Europe stated:
Our investment in Copenhagen Airports Denmark demonstrates MetLife's ability and readiness to creatively structure financings for our borrowers. We were a leading investor in this deal, and we were the only one able to meet the borrower's maturity targets in three currencies: U.S. dollar, euros and Danish kroner.
Tanyeri added that, with this deal, MetLife has approximately US$1.3 billion in infrastructure investments in 10 airports spread across Europe, Australia and the Americas. Infrastructure financing provides MetLife with investment opportunities that match its long-term liabilities.
Copenhagen Airport is the 12th largest in Europe. The debt sale was facilitated by Credit Agricole Securities, ING Financial Markets, Mitsubishi UFJ Securities, and RBC Capital Markets.
MetLife Investment Management, LLC, an SEC-registered investment advisor, leverages the investment expertise of MetLife Investments to create attractive, long-term returns for institutional investors, including insurance companies, public and private pension plans, and sovereign wealth funds.