BBVA finances New Zealand’s largest public-private partnership

BBVA has acted as Mandated Lead Arranger to finance Northland Corridor, the largest transport infrastructure investment under New Zealand's public-private partnership (PPP) model.

The NZ$ 3.6 billion project involves the design, construction, operation and maintenance of Warkworth to Te Hana project, a section of Ara Tūhono, which forms part of the Northland Corridor, a 26-kilometre motorway connecting Auckland and Northland. Designated by the New Zealand Government as a "Road of National Significance," the project will help improve the safety, reliability and connectivity of transport between both regions.

The infrastructure will be developed by Northway, a consortium formed by ACCIONA and Aberdeen Investments, under a long-term PPP concession model in partnership with the NZ Transport Agency Waka Kotahi and Hōkai Nuku.

This transaction marks BBVA's first project finance deal in New Zealand and underlines our commitment to supporting our clients investing in infrastructure that delivers long lasting social and economic benefits to local communities.

“We congratulate ACCIONA and Aberdeen Investments on reaching financial close for this landmark project. BBVA’s role in the transaction reflects our expertise in arranging financing for large-scale and complex infrastructure projects, as well as the continued expansion of our structured finance capabilities in Australia and New Zealand. Building on the strength of our project finance team led by Seth Munday, we are well positioned to support both regional and global clients in these markets,” said Pep Ferris, Head of CIB Asia at BBVA.

With this transaction, BBVA continues to strengthen its presence across Asia Pacific, supporting strategic clients and contributing to the development of infrastructure that delivers long-term economic and social benefits across the region.