The A1 Mobil consortium, comprising Bilfinger Berger Project Investments (BBPI), John Laing and Johann Bunte has reached financial close to design, build, finance and operate the A1 Motorway between Bremen and Hamburg in Germany (part of the A-Model pilot schemes). This is the largest PPP project awarded in Germany to date with an investment volume of €650m. Financial close was achieved on 10 July, only 30 days after contract award.
Bilfinger Berger Project Investments and John Laing each have a share of 42.5% in the A1 Mobil consortium, with Johann Bunte taking 15%. The consortium was advised by Linklaters (legal) and Macquarie (finance).
The MLA group underwriting of nearly €600m of senior debt consists of Unicredit, Caja Madrid and DZ BANK. Unicredit is acting as Coordinating MLA and Coordinating Bookrunner. Syndication is scheduled to commence after the summer. Allen & Overy was acting as legal counsel to the lenders.
The contract award announcement was made by the Traffic Authority of the State of Lower Saxony on 10 June 2008.