BAM PPP has, on behalf of the 100% sponsor BAM PPP-PGGM, successfully refinanced the Liefkenshoek rail tunnel´s EUR 580 million (US$ 647.51 million) of debt and associated interest swaps with the following existing lenders – European Investment Bank, BNG Bank, Société Générale, Banco Santander and the new lenders AG Insurance and Baloise Belgium. Société Générale is also acting as Agent and Account Bank.

Having initially reached financial close only months after the Lehman Brothers collapse in 2008, this refinancing very effectively replaces the soft mini-perm structure in place from financial close with a robust 30-year long term financing solution for the remainder of the concession to 2051.

The following external advisors were involved in the transaction: Clifford Chance, Linklaters, Loyens Loeff, Traderisks and Operis. BAM PPP was responsible for financial advice.