Trio advise on £570m deal to extend Nottingham's tram system
Hogan Lovells, CMS Cameron McKenna and DLA Piper have taken lead roles on a £570m extension to Nottingham's tram network, which was given final approval this week (15 December). Hogan Lovells advised the bank consortium providing senior debt funding for the project, which will see the construction of two new lines extending the tram system to Chilwell and Clifton.
December 21, 2011 at 05:38 AM
2 minute read
Hogan Lovells, CMS Cameron McKenna and DLA Piper have taken lead roles on a £570m extension to Nottingham's tram network, which was given final approval this week (15 December).
Hogan Lovells advised the bank consortium providing senior debt funding for the project, which will see the construction of two new lines extending the tram system to Chilwell and Clifton.
The consortium included the Royal Bank of Scotland, Banco Bilbao, Credit Agricole, the Bank of Tokyo-Mitsubishi and the European Investment Bank.
The firm fielded a team under London-based infrastructure partner Andrew Gallagher, who worked alongside fellow partner Andrew Briggs, senior associate Charles Ford, of counsel Emma Clarke and associate Nathan Buckley.
DLA Piper, meanwhile, advised Nottingham City Council on the project, which in turn selected the Tramlink Nottingham consortium – comprising Vinci, Alstom, Keolis, Trent Barton, Meridiam and OFI Infravia – as preferred bidder for the project in March 2011. The council was advised by a DLA team under finance partner Jennifer Deakin and Leeds-based Natasha Luther-Jones.
CMS Camerons acted as legal adviser to the Tramlink consortium, with a team led by finance partner Jason Davies and Jonathan Beckitt.
The Department for Transport will provide funding of up to £371 million towards the total maximum scheme costs, with Nottingham City Council providing the remaining balance.
Commenting on the transaction, Gallagher said: "This complex project, involving a substantial demand risk element and a large number of contractor parties, is one of the most complex UK projects to reach close in 2011. We are delighted to have worked with such a strong bank group and consortium on this market leading development."
Services on the new routes are expected to be running by late 2014.
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