Refinancing of Arcour, concessionaire of the A19 motorway between Artenay and Courtenay in France
22 November 2017 - 8:30 am - Finances - France
Arcour, a VINCI Autoroutes subsidiary, finalized yesterday the refinancing of its credit facilities granted in 2008 by a pool of commercial banks.
Arcour signed a concession contract with the French state on March 31st 2005, for 65 years, covering the design, finance, build, and operation of the A19 motorway section between Artenay and Courtenay.
After 8 years of operation, Arcour issued a 417 million euro private placement of project bond type, amortizable over 30 years with a fixed rate of 2.817% and subscribed by investors represented by Allianz Global Investors, AXA M – Real Estate, La Banque Postale Asset Management and MEAG MUNICH ERGO AssetManagement GmbH.
Concurrently, the 191 million euro loan granted by the European Investment Bank in 2008 has been maintained, and its amortization profile and maturity were lengthened to be aligned with those of the new bond.
Thanks to this very long-term refinancing, Arcour improves its financial structure on a sustainable basis.
VINCI is a global player in concessions and construction, employing more than 183,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities.