ViA6West GmbH & Co. KG secures a financing for a new section of Germany’s A6 motorway

Ashurst advised an international bank consortium on financing the project to widen Germany’s A6 motorway between the town of Wiesloch/Rauenberg and the Weinsberg junction.

The financing is provided by a bond issued by the project company ViA6West GmbH & Co. KG (ViA6West), which is taken over by the banks.

The bank consortium comprising KfW IPEX-Bank, DZ BANK AG, London Branch, Landeskreditbank Baden-Württemberg – Förderbank and MUFG Securities EMEA plc.

On 25 km of the section being expanded under the project – altogether 47.1 km – the number of lanes will be increased from four to six. The project also encompasses the construction of the 1.3-km-long Neckartal Bridge. The overall project volume adds up to approx. €1.3 billion. The works are scheduled to start at the beginning of 2017 with plans calling for a construction period of 5 1/2 years. Apart from construction work, the project also involves operation and maintenance for the entire 47.1-long-section. The concession period for this PPP is 30 years. The Federal Government had initially put the roadworks to public tender.

The bidding consortium made up of the construction firms HOCHTIEF and JOHANN BUNTE Bauunternehmung together with the financial investor DIF Infrastructure IV was awarded the concession to carry out the Public-Private-Partnership (PPP) project in October 2016.

The Ashurst team was led by finance partner Derk Opitz (project finance) and infrastructure partner Dr Maximilian Uibeleisen (project agreements) who were assisted by senior associates Holger Mlynek (project agreements, tender procedure; Frankfurt) and Dr Karsten Raupach (project finance, Munich), associates Torsten Limberg and Dr Jan Ulrich Heinemann as well as transaction lawyer Emilie Veyran-Müller (all project finance, Frankfurt). Partner Dr Tobias Krug and associate Alexandra Heitmann (both debt capital markets, Frankfurt) advised in relation to capital markets aspects, partners Patrick Boyle (infrastructure) and Derwin Jenkinson (debt capital markets) as well as associate Laura Birkinshaw-Miller (corporate, all London) advised on English law.

Involved fees earner: Derk Opitz – Ashurst; Karsten Raupach – Ashurst; Holger Mlynek – Ashurst; Emilie Veyran-Müller – Ashurst; Torsten Limberg – Ashurst; Jan Ulrich Heinemann – Ashurst; Maximilian Uibeleisen – Ashurst; Patrick Boyle – Ashurst; Tobias Krug – Ashurst; Alexandra Heitmann – Ashurst; Derwin Jenkinson – Ashurst; Laura Birkinshaw-Miller – Ashurst;

Law Firms: Ashurst;

Clients: KfW IPEX-Bank GmbH; Dz Bank; Landesbank Baden-Württemberg;