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Barclays and Vinci close on military sports PPP
09 January 2012
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[gtm]
[vinci]
[barclays infrastructure]
[fontainebleu]
[dailly]
Barclays European Infrastructure Fund II (90%) and GTM (10%), a subsidiary of Vinci, have closed the financing for a French military sports centre PPP. The margins on the debt and the aggressive gearing hint at commercial appetite for PPP projects in France with access to Dailly debt, despite the impact of the Eurozone crisis on French banks.
Mandated lead arrangers BTMU and Dexia are providing Eu88 million ($111.9 million) in senior debt during construction, which breaks down into a Eu77...
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