Gide and Hogan Lovells have advised the lenders and the sponsors respectively on signing in December 2019 the partnership contract between the Communauté d'Agglomération du Centre Littoral (CACL) and Ibys, a consortium of Colas Projects, Ribal Travaux Publics (subsidiary of the Colas group in French Guiana) and Vauban Infrastructure Partners, through its FIDEPPP2 fund, for the financing, design, construction, maintenance and renewal of the infrastructure of two BRT (Buses Rapid Transit) lines, covering 10.1 km, with 21 stops serving Cayenne. The contract is entered into for a duration of 33.5 years.
Investments amount to 135 million euros. Financing is ensured by a combination of equity funds brought by Colas and FIDEPPP2, debt brought by two funds managed by Rivage Investment (Dailly and construction debt), including the Rivage Euro Debt Infrastructure 3 fund that recently reached its hard cap of EUR 1.1 billion and for which this transaction represents its fourth investment.
Gide advised the lenders on all the financing and project documentation. The team comprised partner Laetitia Lemercier, working with associates Faten Anis and Clara Toubert on financing aspects, and partner Marie Bouvet-Guiramand, working with associate Pascal Suffran on project aspects.
The consortium and Ibys were advised by Hogan Lovells on financing and project aspects.