CV Airports II

pending

The Project consists of the financing of the second development phase of the seven airports in Cabo Verde currently operated by VINCI-owned Cabo Verde Airports S.A. (CVA or the Concessionaire) under a 40-year concession (the Project or Phase 1-B). CVA took over the airports' operations from the former public operator ASA on 24-Jul-2023, upon the achievement of Concession Commencement Date (CCD) under the Project's Concession Agreement (CA) signed between CVA and the government of Cabo Verde (GoCV or the Grantor) on 18-Jul-2022. At CCD, CVA launched the first development phase for the airports (Phase 1-A). Phase 1-B was triggered under the CA on 2-Jan-2025 (the Investment Trigger Date), after the airports' annual traffic of 3.0 million pax in 2024 exceeded the level of 2.8 million pax reached in 2019 before the COVID-19 pandemic. The scope for Phase 1-B includes works to improve and expand passenger terminals, the extension of the runway at one of the international airports, and environment-related investments to optimize utility costs.