Bakwena Platinum Toll Highway

active

The Bakwena Platinum Toll Highway project was a combination of a small piece of the N1 (north of the N4), joining the N4 at Pretoria, and then the whole segment of the N4 West from Pretoria to the South African border with Botswana. The 30-year BOT concession was awarded to the Bakwena Platinum Corridor. This consortium consisted of Dragados (part of ACS Group as of 2003) (25%), Compania Espanola de Financiacion del Desarrollo (Cofides) (25%), South African Investment Funds (SAIF) (29.4%) and local investors (20.6%). The total cost of the project was estimated at $450 million. Financing was expected to come in the form of equity (19%), local senior debt (19%), non-African sourced senior debt (10%), senior bond facility (25%), subordinated debt (5%) and revenues during construction (22%). In 2007, financing was reported to have been organised as follow. Debt/equity split was 75/25. 20 debt package included a US$180 million senior debt, a US$41.7 million EIB loan and a US$21 million subdebt portion. The senior debt was split betwwen a Nedcor arranged bank loan and a CPI-linked bond arranged by Investec. None None