Natixis, financial advisor in a Public-Private Partnership concerning the Nîmes and Montpellier railway bypass
Natixis worked with Bouygues Construction on the request for proposals for a partnership concerning the Nîmes-Montpellier high-speed rail line.
© B'n'T Communication
A flagship project
Réseau Ferré de France (France’s Railway Network) has declared the Consortium led by Bouygues Construction prospective winner of the Nîmes and Montpellier railway bypass.
This 25-year public-private partnership (PPP)1 concerns the design, construction, operation and financing of a mixed freight / high-speed 61-km train line and of 18-km loop lines between Nîmes and Montpellier.
The project is one of the major elements of the Government’s economic stimulus plan and as such, it will be France’s flagship PPP for 2012.
The contract should be completed in the 1st half-year of 2012, for a project due to be launched in 2013.
The project also provides for the creation of two new stations for which the financing scheme has not been decided upon yet.
Two benchmark players
This PPP is an outstanding project for FIDEPPP2 and Natixis, benchmark players in this contract.
FIDEPPP is the financial investor of the consortium (for 27%) and of the project. This transaction is one of its most prestigious.
Natixis, financial advisor, is also acting as arranger of this project finance transaction, which will be partly syndicated by CIB’s Debt Platform.
This new flagship project attests to Natixis’ expertise in the financing of public infrastructure.
1 Public-Private Partnership (PPP): administrative contract through which a national public institution entrusts a third party, for a determined period depending on the amortization period of investments or the financing methods selected, with a global assignment relating to the construction or transformation of engineering works or equipment, as well as to their maintenance, operation or management.
2 FIDEPPP: Fonds d’Investissement et de Développement des Partenariats Public-Privé (Investment and Development Fund for PPPs. Managed by Natixis Environnement & Infrastructures, it acts as an investor of the project company. Caisse d’Epargne, Natixis and Crédit Foncier are investors in FIDEPPP.