Paul Hastings Advises Dexia Crédit Local in the PPP Financing of a Broadband Telecom Network in Meurthe-et-Moselle, France
Paris (September 5, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that it advised European bank Dexia Crédit Local on the financing of the public-private partnership (PPP) for the construction of a broadband telecom network to be located in the Meurthe-et-Moselle department of north eastern France.
Granted to a pool of companies including LD Collectivités, Eiffage, Caisse des Dépôts et Consignations and SEIEF (South Europe Infrastructure Equity Finance, a fund sponsored by Dexia and the European Investment Bank), the telecommunications network project is expected to last 26 years (23 months to build the infrastructure, followed by 24 expected years of use) and is valued at approximately €145 million. This telecom network project is the first PPP project of this size in the telecom industry. The financing, arranged by Dexia Crédit Local, includes a €26 million building credit, a €26 million exploitation credit, and a €3 million VAT credit. Dexia Crédit Local also served as financial counsel to the pool.
Paris partners Pascal Cuche and Marc Lordonnois, and associates Mounir Letayf, Karine Debaecker and Hortense Rouvier advised Dexia Crédit Local on the legal aspects of the financing.
About Dexia Crédit Local: European bank Dexia Crédit Local is a world leader in the market of local authority financing and financial services in the public sector.
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services.