Third Bosphorus suspension bridge additional financing

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The $778.8 million proceeds are additional funding to support the PPP construction of a 1.2 km suspension bridge located at the north end of the Bosphorus, north of two other existing bridges, in Istanbul, Turkey. It is part of the larger $5 billion North Marmara Highway project. Third Bosphorus Bridge will be the world’s first bridge to accommodate an 8-lane highway and a 2-line railway on the same level. With its width of 59 meters, a main span of 1408 meters, it will earn the title of being the world’s longest and widest suspension bridge. In addition, with its towers looming over 320 meters, it will be the bridge with the highest tower in the world. Sponsors are Astaldi and IC Ictas. Financing comprises $670 million credit facility and $108.8 million equity. The debt providers are Isbank, Garanti Bank, Ziraat Bank, Halkbank, VakifBank and Yapi ve Kredi Bankasi. Financial close took place on 11 March 2016. https://ijglobal.com/data/transaction/37325/north-marmara-motorway-3rd-bosphorus-bridge-ppp-additional-financing