Pension Insurance Corporation (PIC) has announced a €75m investment in the refinancing of the A28 Rouen-Alençon motorway in France.
As part of an approximately €1bn refinancing, the debt will be used to repay existing financing that supports the motorway’s operations.
PIC’s investment will be repaid through toll revenues, generating long-term cashflows helping to match its pension liabilities and support the payment of policyholders.
“The project supports the critical infrastructure requirements, whilst supporting the secure and predictable cash flows PIC needs,” PIC senior debt origination manager, Peter Jeranyama, said.
