KfW IPEX-Bank jointly with six other banks provides EUR 1.4 bn for the construction of Berlin Brandenburg International Airport
Frankfurt am Main (ots)
KfW IPEX-Bank together with the investment banks of Berlin, IBB, and of the federal state of Brandenburg, ILB, Landesbank Berlin, NORD/LB Norddeutsche Landesbank, DZ BANK and Berliner Volksbank provides EUR 1.4 billion to finance the construction of the Berlin Brandenburg International Airport - BBI. An additional EUR 1.0 billion is being put up by the European Investment Bank (EIB). The infrastructure finance project is currently Europe's largest. The corresponding agreements have been signed today in Berlin.
KfW IPEX-Bank, which is acting as agent in the banking consortium, is contributing EUR 310 million, as are ILB and IBB. Landesbank Berlin and Nord LB are each putting up EUR 150 million of the financing, DZ BANK is providing EUR 100 million and Berliner Volksbank is contributing EUR 70 million. The tenor of the loan is 10 years. It is secured by a full guarantee of the Federal Republic of Germany and of the federal states of Berlin and Brandenburg.
Dr Ulrich Schröder, Chairman of the Managing Board of KfW Bankengruppe, commented at the press conference held on the occasion of the signing of the agreements: "I am pleased that in these difficult times, the seven banks of the consortium and the EIB succeeded in providing such a considerable sum in long-term financing for Berlin Brandenburg International Airport. The expertise and experience of the participating banks with financing infrastructure projects played a major role in this deal. The states of Berlin and Brandenburg and also the Federal Republic clearly underscored their commitment to the undertaking by offering guarantees, making them additional key factors contributing to the successful conclusion of the negotiations. This marks the accomplishment of a further milestone in the realisation of this important infrastructure project".
Christian Murach, Managing Director at KfW IPEX-Bank, emphasised the significance of the project for KfW IPEX-Bank: "Our close business ties to Berlin's airports go back a long way. For years we have provided various loans for the Berlin Brandenburg International airport project in particular. Thanks to a high level of commitment and perseverance on all sides we have now succeeded in completing the final financing. KfW IPEX-Bank backed the project in every stage and proved to be a reliable partner for the airport. The Berlin Brandenburg International Airport is a further milestone in our airport portfolio".
About KfW IPEX-Bank GmbH
Within KfW Bankengruppe KfW IPEX-Bank GmbH provides project and corporate financing as well as trade and export financing domestically and abroad. Worldwide it conducts all market activities of KfW Bankengruppe that are carried out on commercial terms. KfW IPEX-Bank GmbH has been operating as a legally independent subsidiary since 1 January 2008 and contributes significantly to the promotional mission of KfW Bankengruppe. It has approx. 490 employees (as of June 2009) and is represented in the key economic and financial centres throughout the globe.
Contact:
KfW IPEX-Bank GmbH,
Palmengartenstraße 5-9,
60325 Frankfurt
Pressestelle:
E-Mail: dela.strumpf@kfw.de
Tel.: 069 7431-2984,
Fax: 069 7431-9409,
E-Mail: info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de
Original content of: KfW IPEX-Bank, transmitted by news aktuell