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18 Dec 2023

Stephenson Harwood advises SGP as borrower on €1 billion loan for Grand Paris Express transport network

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Stephenson Harwood LLP has advised Société du Grand Paris (SGP) as borrower on the arrangement of a €1 billion loan to develop and build the Grand Paris Express transport network. The European Investment Bank is acting as lender on the transaction.

SGP was incorporated as an EPIC, a public industrial and commercial establishment, in 2010. The Grand Paris Express transport network is the largest civilian infrastructure project in Europe and will contribute to a significant transformation of the Île-de-France region.

The transaction will part-finance SGP's borrowing requirements for the construction of the first section (33 km) of line 15, an automatic underground metro bypass around Paris running from Pont de Sèvres to Noisy-Champs, improving public transport services and offering an alternative to the car. This greener infrastructure project aligns with France’s goal to promote sustainable and efficient public transportation systems.

Capital markets partner Jeremy Grant and banking & finance associate Marc Chalon advised SGP on the financing. The transaction is part of a wider financing mandate on which Jeremy Grant and Marc Chalon are also advising, alongside partner Yann Beckers.

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