IFLR1000

CDG Express Gare de l'Est - Charles de Gaulle Airport railway

25/3/2019
PPP, Project finance
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€ 2.1 billion

$ 2.354 billion

Announced

25/3/2019

Overview:

  • The French state, represented by Minister for Transport Elisabeth Borne, and Société Gestionnaire d’Infrastructure CDG Express signed the concession for the CDG Express airport rail infrastructure.
  • Société Gestionnaire d’Infrastructure CDG Express is a consortium between SNCF Réseau, Aéroports de Paris and Caisse des dépôts et consignations.
  • CDG Express is due to open on 1 January 2024, a few months before Paris hosts the summer Olympics, and it will connect Gare de l’Est in central Paris with Terminal 2 at Paris Charles de Gaulle airport, a non-stop route covering 32 kilometre.
  • The infrastructure is set to cost €1.8 billion plus approximately €300 million of financing costs.  
  • Travel time is expected to be approximately 20 minutes.

Laura Mendes – Researcher

 

Jurisdiction:

France

Deal types:

PPP
Project finance

Practice areas:

Project finance
Project development
PPP/PFI

Governing law:

France

Industry sector:

Social infrastructure

Firms:
Allen & Overy

Party: Banco Bilbao Vizcaya Argentaria SA (Lender)

Party: BNP Paribas (Lender)

Party: KfW IPEX-Bank GmbH (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Lawyers: Driss Bererhi, Romaric Lazerges

Darrois Villey Maillot Brochier

Party: SNCF Réseau (Concessionaire)

Lawyers: Henri Savoie, Jean-Baptiste de Martigny

Dentons

Party: Keolis (Sponsor)

Party: RATP Development (Sponsor)

Gide Loyrette Nouel

Party: French state (Originator)

Lawyers: Emmanuel Vital-Durand, Laetitia Lemercier, Thomas Courtel

Herbert Smith Freehills

Party: Caisse des dépôts et consignations (Concessionaire)

Lawyers: Christophe Lefort, Christopher Theris, Hubert Segain

Hogan Lovells

Party: Aéroports de Paris (Concessionaire)

Lawyer: Stéphane Huten

Linklaters

Party: Société Gestionnaire d’Infrastructure CDG Express (Project company)

Lawyer: Bertrand Andriani

Weil Gotshal & Manges

Party: Société Gestionnaire d’Infrastructure CDG Express (Project company)

Willkie Farr & Gallagher

Party: Societe Generale (Lender)

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