Vinci Airports closes Belgrade airport concession deal

27 December 2018 - 12:00 am UTC

Vinci Airports has reached financial close on its long-awaited EUR 920m Belgrade Nikola Tesla Airport concession deal.

The Vinci subsidiary raised EUR 420m of debt and provided some EUR 500m of equity for the deal, which closed on 22 December.

Some EUR 501m of debt and equity covered an upfront fee for the right to operate the Serbian airport concession for 25 years.

The remaining cash will pay for an extension of the airport, which handled 5.3m passengers in 2017, as well as upgrade works.

Commercial banks UniCredit, Intesa, Erste, Société Générale, Kommunalkredit and CIC are understood to have provided around EUR 200m of the debt, as reported by Inframation earlier in December.

Multilaterals IFC, EBRD, Agence Française de Développement via its subsidiary Proparco, and KfW Group subsidiary DEG provided the remaining EUR 220m of debt.

The loans have a maximum tenor of 17 years, Vinci Airports said. Inframation previously reported that the loans have varying tenors starting at 10 years.

Lazard and KPMG advised the Serbian government, while UniCredit and Dentons advised Vinci Airports. Allen & Overy advised the lenders.

Vinci Airports, which has 12,000 employees, manages 45 airports in France, Portugal, the UK, Sweden, Cambodia, Japan, United States, Dominican Republic, Costa Rica, Chile and Brazil. Its airports are served by 250 airlines and handled 180 million passengers in 2017.

Its parent, Vinci, employs some 195,000 staff and operates concessions in 100 countries.

 

Read more