CRÉDIT AGRICOLE CIB LEADS THE REFINANCING OF SYDNEY AIRPORT

Crédit Agricole CIB acted as lead arranger in the latest refinancing of Sydney Airport’s senior debt facilities. In October 2010, Sydney Airport raised over a total of AUD 1 billion new senior syndicated debt facilities. Crédit Agricole CIB maintained its position as one of the Airport’s leading financiers. The Bank provided additional financing in the new 5 and 7 year tranches.

The transaction enabled Sydney Airport to deliver on its corporate objectives of refinancing its debt facilities significantly in advance of any maturities. The transaction refinanced debt facilities maturing in 2011 and 2012, resulting in the Airport having no further maturities before October 2013.

Sydney Airport has been a strong client of Crédit Agricole CIB since the Airport was privatised in 2002. In addition, Crédit Agricole CIB has a strong relationship with the Airport’s major shareholder, the ASX listed MAp Group, which also owns interests in Brussels and Copenhagen airports.

Angus Foley, Director Project Finance in the Sydney office of Crédit Agricole CIB, said that: “the transaction provided an excellent opportunity to build on our global expertise in infrastructure financing. Australia has provided a range of attractive opportunities for Crédit Agricole CIB, where we have recently acted as mandated lead arranger on deals including the Port of Brisbane privatisation, M2 Motorway Upgrade project and the NCIG coal export terminal.”

“We are very pleased with the strong support that Sydney Airport has received from financiers. The bank debt commitments come from both new and existing lenders and have extended the maturity profile of Sydney Airport’s bank debt. Sydney Airport has now received financing commitments in excess of the term debt facilities maturing across 2011 and 2012,” comments Kerrie Mather, MAp Chief Executive Officer.

MAp is one of the world’s largest private airport owners and operators with a portfolio of three major airports – Copenhagen, Brussels and Sydney.

Sydney Airport is Australia’s premier international gateway and the major international and domestic airport servicing Sydney and the State of New South Wales.