Atlandes, the project company for the A63 motorway PPP project in France, has refinanced the initial debt package put in place in January 2011.
The initial funding package included €900 million (US$990 million) of senior debt and €200 million (US$220 million) of equity investment.
Atlandes signed a 40 year concession agreement with the French State to design, build, operate and finance a 104 km motorway in South West France.
The A63 autoroute project consisted of the enlargement and upgrade of an existing 105km road linking the towns of Salles (Gironde) and St-Geours de Maremne from a two to a three-lane highway. The project also comprised the construction of two cross-lane toll barriers and parking facilities for 1,200 heavy goods vehicles (HGVs).
The A63 project is part of the trans-European network and will sustain trade flows between the Iberian Peninsula and northern Europe.