Infrastructure Journal named VTB Capital winner of “The Deal of the Year – Transport” in recognition of its role in the Pulkovo Airport financing. This is the sixth industry award that VTB Capital has received for the Pulkovo project.
In July 2010, the Northern Capital Gateway consortium (VTB Capital, Fraport AG and Copelouzos Group), EBRD and IFC (a member of the World Bank Group), successfully closed the EUR 200mn syndication of the commercial bank B-loan tranche for the financing of the Pulkovo airport reconstruction project in St. Petersburg. The total cost of the Pulkovo airport modernization and reconstruction project is EUR 1.2bn, of which over EUR 700mn is financed through limited recourse long term senior debt that required no government grants or subsidies to finance. The entire financing for the project was raised without recourse to any state subsidies or guarantees.
Previous awards acknowledging VTB Capital's role in financing the Pulkovo Airport project are:
· Project Finance magazine ‘European Airport Deal of the Year 2010’
· Infrastructure Investor ‘Global PPP Transaction of the Year 2010’, ‘European PPP Transaction of the Year 2010’, ‘#2 in the category of European Infrastructure Deal of the Year 2010’, ‘#4 in the category of Global Infrastructure Deal of the Year 2010’
Oleg Pankratov, Chairman of the Board of Directors of the Northern Capital Gateway LLC, Co-Head of Global Banking and Head of Infrastructure Capital at VTB Capital, said: “We are proud of VTB Capital’s involvement in the Pulkovo reconstruction project. As financial adviser for and co-investor in the project we raised EUR 1.2bn. It has a number of unique features that cannot be easily replicated in other deals, but the majority of key aspects can be used as a template for future PPP projects. This award is an important accolade”.
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