"Thanks to its credit expertise and comprehensive market vision, Redbridge made it possible for us to refine our strategy towards we approach lenders."

Olivier Neumann
Chief Financial Officer

Presentation of the assignment 

  • Implementation of the financing of the project to modernize the Roland Garros stadium
  • Project cost: €360m
  • Financing amount: €200m

Objectives 

  • Obtain long-term financing
  • Be competitive in terms of price
  • Be flexible in terms of commitments
  • With a limited pool including the original bank
  • Take governance and political issues into account

Results 

  • Positioning risk as a corporate risk rather than a project risk
  • Unsecured financing at a 16-year fixed rate to ensure sustainability
  • Very competitive and extremely flexible financial and legal conditions
  • Maintaining the privileged relationship with the original bank

Methodology 

  • Analysis of the business plan and determination of the financing requirement
  • Detailed cash flow analysis for optimal credit positioning
  • Bilateral consultation of both long-standing and new bankers
  • Two-round consultation process
  • Maintaining bilateral negotiations until final determination of conditions
  • Initial drafting of financial documentation to maintain negotiating momentum

Redbridge’s Added Value 

  • Project management by a dedicated team working alongside the Finance department during the 18-month period of the project
  • Obtaining a far more versatile documentation system compared to a project financing structure
  • Maintaining bargaining power through the client’s throughout the process
  • Additional liquidity protection during the construction phase of the project
  • Optimization of each element (price, structure, amount and all documentation criteria) to ensure credit sustainability and competitiveness over 16 years
  • Expansion of the banking pool to include competitive banks with good liquidity
  • Achieved savings of over €15m

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