VINCI completes financing for the Le Mans Stadium concession

9 October 2008 - Projects update and handover - France

Le Mans Stadium (LMS), the concession company held by VINCI Concessions, has completed the financing package for the Le Mans Stadium concession contract, worth a total of €102 million.

The financing package includes €39 million in senior debt without recourse to the shareholder over a maximum of 33 years, plus an €11 million capital injection from the concession company’s shareholder.

The package is supplemented by a €49 million subsidy from local authorities, including the City of Le Mans (€31.48 m), the Region of Pays de la Loire (€8.76 m) and the Department of the Sarthe (€8.76 m).

Funding is completed by an initial €3 million payment from MMA (Mutuelle Mans Assurances) in return for the "naming" contract. MMA will also pay €1 million a year for the first ten years of operation. This "naming" component is an original feature of the financing package for the stadium, which will be called the "MMArena".

The concession contract covers design, financing, construction and operation of the "MMArena", a 25,000-seater stadium that will be used by the town’s home football club, "Mans Union Club 72".

The concession came into force on 7 July 2008 for a period of 35 years which includes the two-year period of construction of the stadium. This is the first stadium concession contract signed since the Stade de France, which celebrates its 10th anniversary this year, for which VINCI is the concession-holder.

 

About VINCI
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.