Natixis stages a twofold success with Vinci Group in Benin
Natixis finalized a €326m financing transaction for the Republic of Benin on April 1, 2021 as arranger, agent and lender along with Bpifrance. Funds will be used to finance an electricity transmission and distribution program by VINCI Energies in the country.
This deal will be guaranteed by French credit export agency Bpifrance Assurance Export and is the largest export finance transaction ever undertaken by Benin.
The project will fund a program of air and underground transmission lines with very high voltage and high voltage, as well as electricity distribution networks. It will also finance the development of seven new very high voltage transformer stations and capacity extension work on four existing high voltage stations, helping connect several thousand homes to the network and supporting several business areas in the country.
“We are extremely honored that the VINCI Group and the government of Benin have again placed their trust in Natixis and our know-how to support them in funding their major infrastructure contracts. This is the largest export finance deal ever undertaken by Benin. This type of transaction reflects Natixis’ longstanding expertise in supporting our clients on positive-impact projects by rolling our customized structured solutions. Despite the current challenging health environment, we were able to sign the credit documentation in record time for this kind of deal as a result of the commitment of all parties involved. Our teams are fully mobilized alongside Benin and VINCI for the project execution phase” states Anne-Cécile Delas, Global Head of Global Trade, Corporate & Investment Banking, Natixis.
In 2020, Natixis also supported the VINCI Group’s subsidiary Sogea Satom in an export finance deal for the project to rehabilitate 284 km of highway between Bohicon and Parakou, providing the backbone of Benin’s economy, and is delighted to once again be entrusted with this major project.
We would also mention Norton Rose Fulbright, which advised Natixis, as well as Rothschild & Co Bank and law firm Cleary Gottlieb which advised the Republic of Benin.