ASF obtains financing of €250 million from the European Investment Bank
17 January 2008 - Finances
Société des Autoroutes du Sud de la France (ASF) and the European Investment Bank (EIB) have just signed a financing agreement for €250 million.
The contract is to fund investments underway by ASF and its subsidiary Escota to improve motorway safety and protection of the environment and to upgrade security to comply with standards for 17 tunnels on the A8 motorway. These investments, for a global amount of some €700 million, are part of the Program Contracts (“Contrats de plan”) signed by ASF and Escota with the French State.
The financing granted by the EIB is in the form of a credit line to be used between now and the end of 2009 and to be repaid at the latest in 2028.
The interest rate applicable may be fixed or floating according to the lender's decision, and will be determined according to the EIB's financial conditions when amounts are drawn.
This transaction strengthens ASF's financial structure and increases its liquidity.
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