LISEA, the concession company operating the South Europe Atlantic high-speed rail line, finalises the refinancing of its commercial debt
21 December 2018 - 8:30 am - Finances - France
· LISEA optimises its financing structure
· The project’s environmental commitments have earned it the Green Bond label
LISEA, a VINCI Concessions subsidiary (33.4%) and the concession company that will be operating the South Europe Atlantic high-speed rail line until 2061, has refinanced €2.2 billion of the debt it raised from a pool of banks in 2011 to finance the construction of the rail line between Tours and Bordeaux.
This transaction encompasses a €1.3 billion bank loan maturing over 27 years, along with two fixed-rate tranches from institutional investors amounting to a total of €905 million and maturing over 30 and 35 years.
These two fixed-rate tranches have earned the Green Bond label from Vigeo, an independent rating agency, on account of LISEA’s environmental commitments.
This refinancing operation is one of the largest in Europe this year enables LISEA to decrease its cost of debt and extend its average maturity benefiting from these long-term resources at an attractive cost.
Financial closing is expected at the beginning of 2019.
The South Europe Atlantic high-speed rail line opened to traffic on 2 July 2017 and has shortened travel times between Paris and Bordeaux to two hours.
About VINCI Concessions
VINCI Concessions is an international leader in airport, motorway and railway concessions, and operating in 20 countries. We leverage our integrated concession and construction model, along with our expertise in design, financing, programme management, operation and maintenance, to serve awarding authorities and partners for the long term, by delivering high-profile assets and growth on each of the projects they entrust us with. Our 17,000 employees are committed to the highest standards of excellence and to providing our customers with unsurpassed services on all the infrastructure we operate.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 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. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.