Salvador Bahia Airport and Banco do Nordeste (BNB) agree on financing of the airport’s expansion and modernization project

Salvador Bahia Airport and Banco do Nordeste (BNB) agree on financing of the airport’s expansion and modernization project

• Salvador is the first airport of the recent concession auction round to reach financial closing
• The agreement full non-recourse loan implemented for airport financing in Brazil.
• VINCI Airports has demonstrated its ability to provide innovative solutions in the fast-growing Brazilian market.

 

The Concessionaire of Salvador Bahia Airport, a subsidiary of VINCI Airports, and Banco do Nordeste (BNB) announced today to have reached an agreement for a 516 million Reais (118 million Euros) loan to finance the first phase of renovations and expansion work at the airport, which will be completed by October 2019.

The contract will be signed on June 29th at 10:30 am, in a ceremony in the airport’s auditorium with the presence of top regional and airport authorities, and executives from both VINCI Airports and Banco do Nordeste, including Romildo Carneiro Rolim, President of Banco do Nordeste, and Julio Ribas, CEO of the Concessionaire of Salvador Bahia Airport.    

This signature also marks an important milestone for Salvador Bahia airport, as it is the first airport from the latest wave of privatizations in Brazil to reach financial closing.
The loan term is of 20 years. This will be the first full non-recourse loan implemented for airport financing in Brazil. 
VINCI Airports officially took over the operations of Salvador Bahia Airport on January 2nd, for a 30-year concession period. The first phase of renovations and expansion work was launched on April 19th and includes a major expansion project and compliance of the existing airside infrastructures, construction of a new departure area (+20,000 square meters.) and the refurbishment of the existing terminal. Total investments in the airport during the 30-year concession are expected to reach 1.5 billion Reais. 

According to Nicolas Notebaert, President of VINCI Airports, the operation will transform Salvador Bahia airport into a world-class gateway to the Northeast Region of Brazil, improving passengers experience and providing improved services to airlines alike: “This is an exciting milestone. Thanks to the support of Banco do Nordeste, we will be able to use our global experience in redesigning the airport experience for passengers and build on air traffic for the benefit of Salvador and the overall economy, tourism and social development of Bahia. This agreement is also further evidence of our ability to provide innovative solutions in the fast-growing Brazilian market, with the right partners and our approach to investments which is just-in-time and fit-for-purpose”. 
The loan will be granted with resourced from the Constitutional Financing Fund of the Northeast (FNE). It will be one of BNB’s largest operations in the region in 2018. 

Romildo Carneiro Rolim, President of Banco do Nordeste, stated: “We have been providing robust support to the main infrastructure projects in the Northeast Region, in addition to the north of Minas Gerais and Espírito Santo, which comprise our geographical reach. BNB has 30 billion Reais in resources from FNE, with 14.5 billion Reais being invested in logistics, water and sanitation, transportation and energy projects. We are proud to be part of such a relevant project. The expansion and renovation of Salvador Bahia Airport will not only generate new jobs, but contribute to a continuous development of Bahia’s economy”.    


About VINCI Airports

VINCI Airports, a top 4 global player in the international airport sector, manages the development and operation of 36 airports located in France, Portugal (including the Lisbon hub), Cambodia, Japan, Dominican Republic, Chile and Brazil. Served by around 250 airlines, VINCI Airports' network handled 156.6 million passengers in 2017. 

Through its expertise as a comprehensive integrator and the professionalism of its 12,000 employees, VINCI Airports develops, finances, builds and operates airports, leveraging its investment capability, international network and know-how to optimize the management and performance of existing airport infrastructure, facility extensions and new-build construction projects. In 2017, its annual revenue for managed activities amounted to €3.2 bn, for a consolidated revenue of €1.4 bn. More comprehensive information is available on www.vinci-airports.com  
 

About Banco do Nordeste

Banco do Nordeste do Brasil S.A. is a multiple financial institution, organized in the form of a publicly-traded mixed-capital corporation with more than 90% of its capital under the control of Brazilian Government. Since its inception, it has its headquarter in Fortaleza, Ceará.

Economic, institutional and individuals are agents of the bank. Economic agents include companies (such as micro, small, medium and large companies), associations and cooperatives. Institutional agents involve governmental (federal, state and municipal) and non-governmental entities. Individuals comprise rural producers (family farmer, mini, small, medium and large producer) and informal entrepreneurs.

Recognized as the largest institution in Latin America focused on regional development, Banco do Nordeste operates as an executor of public policies, especially with the operationalization of the Constitutional Financing Fund of the Northeast (FNE).


Press Office Contacts

VINCI Airports 

Brunswick Group
+ 55 11 3076-7620
VINCIBRAZIL@brunswickgroup.com

Banco do Nordeste
Deyse Moura
+ 55 85 3299-3149 / + 55 84 99898-0105
imprensa@bnb.gov.br