Syndication returns as €806m ‘French Pentagon’ reaches close

BBVA, CIC, Dexia, Natixis and SG are backing a consortium led by a subsidiary of Bouygues in the financial close for the 30-year contract to build and operate France’s new Ministry of Defence. The €806m loan will start syndication this month to European banks.

Oaple-Defense, a consortium led by a subsidiary of French construction giant Bouygues, has reached financial close on the public-private partnership (PPP) contract to build and operate France’s new Ministry of Defence, in Balard, a suburb of Paris.

The 30-year project, nicknamed the ‘French Pentagon’, will be able to house 9,300 of France’s senior military officials and ministry of defence employees.