Resonance Advisory assisted AIBD in its negotiations with lenders.

#Africa, #Senegal, #Transportation, #Airport

Project description

AIBD is the concessionaire of the new Dakar airport.

Under a concession contract signed with the State of Senegal had the responsibility to build and maintain the ne Blaise Diagne International Airport. Construction was originally carried-out by Saudi construction company, SBG, while operation of the airport was to be undertaken by a subsidiary of German airport operator Fraport.

AIBD, a state-owned private company, raised project finance debt from multilaterals and development banks, including the African Development Bank (AfDB), Agence Française de Dévelopment (AFD), and Islamic Development Bank. The project financing included a combination of Islamic and conventional financing.

The project was inaugurated in December 2017

Our role

Resonance Advisory acted as a financial advisor to AIBD with a team member being based part time with the AIBD team.

Our mission included :
Development and regular update of a financial model
Adjustment of the financial model based on the construction progress
Development of reporting tools to AIBD and lenders including budget management
Assistance in negotiations with lenders, implementation of waivers and amendments,
Revision of the hedging strategy, including EUR/USD swaps
General cooperation with the AIBD team.

    🗹 financial modeling 

    🗹 transaction management 

    🗹 financial audit