Ministry of Economy and Finance of the Republic of Ivory Coast

Ministry of Economy and Finance of the Republic of Ivory Coast - Bpifrance Covered Loan

Industry
Infrastructure/Healthcare facility
Area of finance
Export & Agency Finance
Country
Cote D'Ivoire (Ivory Coast)

Deal Overview

This deal consists of:- EUR 120.8 million Buyer Credit under 95% comprehensive Bpifrance cover to finance up to 85% of the contract value plus up to 100% of the ECA premium. Tenor is 18 months draw-down period plus 10 years repayment (20 semi-annual instalments), i.e. 11.5-year door-to-door. The...

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This deal consists of:

- EUR 120.8 million Buyer Credit under 95% comprehensive Bpifrance cover to finance up to 85% of the contract value plus up to 100% of the ECA premium. Tenor is 18 months draw-down period plus 10 years repayment (20 semi-annual instalments), i.e. 11.5-year door-to-door. The buyer credit benefits from a so called “Taux Construit” (Constructed Fixed Rate), available under the new French Export Credit scheme for deals beyond EUR 100 million value. 

- EUR 25.7 million Tied Commercial Loan to finance the 15% down payment plus the portion of local content that is not eligible for financing under the buyer credit. Tenor is 18 months draw-down period plus 5.5 years repayments (11 semi-annual instalments), i.e. 7 year door-to-door. The Tied Commercial Loan is on a floating rate basis.

Underlying project: commercial contract signed between Vamed Projets Hospitaliers France and the Ministry of Health of Côte d’Ivoire for the construction of four general 100-beds hospitals each having a different speciality pole in San Pedro, Man, Méagui and Danané.

Sustainability: the transaction is key for the development of quality health services in the country, especially in remote and so far underserved areas, and it qualifies therefore as sustainable.

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Deal Volume
$ 161.64m
Financial Close
13 September 2019
Sources
Submitted by participant(s)

All Dealmakers

Bertrand Renault

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Willem Van Nouhuys

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Kristof Luycx

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Emmanuel Lemoine

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Tranches


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