June 29, 2009

Deutsche Bank acts as financial advisor for financing of the EUR 1.6 billion Polish A2 Motorway

Today, the Polish Minister of Infrastructure, Autostrada Wielkopolska II S.A. (“AWSA II”, the concessionaire company), the European Investment Bank and Deutsche Bank (on behalf of commercial banks) officially signed agreements in Warsaw with respect to the EUR 1.6 billion financing of the design, construction, operation and maintenance of the 105 km A2 Motorway section Nowy Tomysl - Swiecko (at the German-Polish border). Deutsche Bank acted as financial advisor to AWSA II.

This important milestone will allow construction to go ahead, and to be completed in time for the EURO 2012 football championships, linking the A2 (and Warsaw via Berlin) with the Western European motorway network. Strabag AG, Meridiam Infrastructure SA, Kulczyk Holding SA and KWM Investment GmbH are the project sponsors and shareholders of AWSA II. Deutsche Bank had already successfully advised on an ancillary 150 km A2 Motorway section.

Dr. Thomas Rueschen, Global Head of Asset Finance & Leasing, said: “Given visibility and importance of this transaction it will further boost Deutsche Bank’s infrastructure business with leading contractors and institutional investors.”

Bernd Fislage, Head of Project & Capital Advisory, added: “Our first-class client and product franchise enabled us to play a much larger role by providing advisory, underwriting, derivative and GTB services to the success of the project. This has been demonstrated by the sponsors’ further request for Deutsche Bank to look at alternative restructuring solutions on the existing debt facilities currently in place for section I of the A2 Motorway.”

Total A2 project funds of EUR 1.6 billion primarily come from three sources; (i) a 27 year EUR 1.0 billion senior loan facility from EIB, (ii) a 20 year EUR 400 million senior commercial loan facility from 9 commercial banks, BBVA, Caja Madrid, Calyon, Deutsche Bank, BES, KfW IPEX-Bank, Unicredit, SG and WestLB; and (iii) EUR 185 million of equity and shareholder loans. A PLN 150 million VAT loan facility will also be provided by BRE Bank, PKO Bank Polski and Unicredit. The transaction was heavily oversubscribed and ticket sizes reduced considerably. Deutsche Bank will furthermore be acting as facility agent.

The transaction is a landmark transaction, part of the strategic Trans European Network (TEN), connecting Berlin to Warsaw en route to Moscow, bridging the existing motorway section to the German border. Through the structure, Deutsche Bank attracted strong oversubscription during a time of severe liquidity constraints in global debt markets for this size and type of infrastructure transactions. The clients will continue to work with Deutsche Bank as financial advisor for a subsequent refinancing of a further A2 motorway segment.

For further information, please call:

Deutsche Bank
Armin Niedermeier
Press and Media Relations
Phone: +49 69 910 33402

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