BBI Funding Launched

27.06.06 10:48
Berlin Airports launch bridge loan for the new airport / International bank consortium led by the Commerzbank provides more than € 350 million
Another important step has been taken in the process of extending Schönefeld Airport to turn it into Berlin Brandenburg International Airport or BBI. The Berlin Airports have now agreed a bridge loan totalling € 350 million with an international consortium of banks headed by the Commerzbank. Besides the Commerzbank, the consortium consists of Helaba, KfW/IPEX and the Sumitomo Mitsui Banking Corporation (SMBC) as co-arrangers; each of them will provide € 75 million in funding. Other members in the consortium are the investment banks in the states of Berlin and Brandenburg, each of which is contributing € 25 million.

Thomas Weyer, Managing Director Engineering / BBI at Berlin Airports says: “The consortium consisting of a good mix of commercial and development banks shows how attractive the BBI project is in international banking circles. We shall be able to start the BBI building work on time with the money that is now being made available. The excavators will start work on the BBI building site in the autumn.”

The launch for the bridge loan for BBI is going according to plan after the Federal Administrative Court issued its final ruling on 16th March 2006 that Schönefeld Airport could be extended. The bridge loan will probably be converted into long-term funding in the second half of 2007 after the most important building contracts have been awarded. The preparatory work for the long-term funding is already under way. As reported, the funding for BBI consists of three pillars: internal funding provided by the airport company amounting to € 440 million, capital resources amounting to € 430 million from the following partners: Berlin, Brandenburg and the federal government; and bank loans. According to current planning, a nominal figure of two billion euros will be invested in the new airport from 2005 until BBI is opened in 2011. Interest payments and fees on the necessary bank loans must be added to the investment sum.

The next steps along the road to building BBI

2nd half of 2006: ground-breaking ceremony and preparing the building site, constructing building roads, the central concrete mixing works, the various building site areas; work to start on relaying cables; invitations for tenders for the first building work; establishing the taxiway links with the BBI northern runway.

2007: building work to start on the railway tunnel and railway station underground; building work to start on the supply and disposal facilities; building work to start on the northern and southern taxiway system; dismantling the current northern runway and closing the gap in the A 113neu motorway; building work to start on the access roads

2008: building work to start on the terminal and service roads

2010: commissioning the fire brigade, buildings for special equipment, winter services, ground traffic services

From May 2011: test operations at the new terminal and the complete technical system

30th October 2011: opening of BBI

Hannes Stefan Hönemann

Hannes Stefan Hönemann Head of Corporate

+49 30 6091-70100

Daniel Tolksdorf

Daniel Tolksdorf Spokesperson

+49 30 6091-70100

Kathrin Westhölter

Kathrin Westhölter Spokesperson

+49 30 6091-70100