Stibbe advises consortium
Stibbe assisted a consortium in its successful bid for the Belgian PPP road project for the new A11-highway between Knokke and Zeebrugge.
The A11 is part of the Trans-European Transport Network (TEN-T) and aims to realise a so-called missing link in the Flemish road network. This consortium was formed by dredging company Jan De Nul; Belgian construction groups Van Laere, Franki, and Aswebo; and financial sponsor DG Infra+. The consortium won the bid which was supported by a fully-financed, long-term bank financing and project bond solution (supported by EIB’s new PECB product). This transaction could be one of the first project bond transactions ever in Europe that is supported by EIB’s new credit enhancement product. And it has attracted interest from sponsors and lenders from all over Europe.