Orrick Advises Republic of Serbia in Financing for Belgrade Airport Concession

Orrick advised the Republic of Serbia in the financing for Belgrade’s Nicola Tesla Airport concession. The concession was attributed to VINCI Airports, a subsidiary of French construction company VINCI, in January 2018. The concession contract was signed on March 22, 2018 and VINCI effectively took over the concession on December 22, 2018.

To complete this transaction, VINCI Airports raised loans amounting to a total of €420 million and maturing over a maximum of 17 years from four multilateral institutions – IFC (a member of the World Bank Group), EBRD (European Bank for Reconstruction and Development), Agence Française de Développement (via its subsidiary Proparco) and DEG (KfW Group) – as well as six merchant banks (UniCredit, Intesa, Erste, Société Générale, Kommunalkredit and CIC). Orrick assisted the Republic of Serbia in its direct agreement negotiations with the lenders.

This funding will ensure the development of Belgrade airport and is one of the most important financial transactions in Serbia.

The Orrick’s team included partner Yves Lepage and associate Foucaud Jaulin.