"IAB just closed the EUR 392m debt financing package for TAV Airports Holding, Turkey's leading airport operator, to finance the construction of a new airport in Enfidha, and refurbishment of the Monastir airport, both in Tunisia. The total project cost is EUR 562m and the two airports will be operated by TAV Airports through their wholly owned subsidiary TAV Tunisie, under a 40-year concession.
The deal involves IFC, a subsidiary of the world bank, and is based on an A/B/C loan structure where IFC provided the A and C loan (EUR 135m in aggregate) and commercial banks provided the remainder under the B loan.
The project is the first public-private partnership (PPP) in the airport sector in North Africa, and is expected to lead to more PPPs in Tunisia and the wider region.
This deal sets a new milestone in the expansion of our business in more ""emerging"" countries, following the Bina Istra road closing in Croatia in November 2007. This is also a valuable precedent in project financing alongside multilateral agencies."

SG CIB role: Mandated Lead Arranger