Ashurst scores major role on Irish road ppp

A raft of firms has given advice on the design, construction, operation and financing of a toll road in Ireland. An Ashurst infrastructure team led by partners Joss Dare, Patrick Boyle and Lee McDonald advised Celtic Roads Group (CRG) on the financial close of the €354m (£238.92m) M7/M8 Portlaoise PPP project. The project will see 41km of road constructed between Portlaoise and Castletown. CRG received advice on Irish law from Garrett Monaghan at Arthur Cox. ING Bank, Société Générale and Bank of Ireland acted as mandated lead arrangers, providing 50 per cent of the €350m (£236.22m) debt package. They received advice on Irish law from Matheson Ormsby Prentice, while Andrew Normington from Pinsent Masons gave UK advice. The European Investment Bank, which was advised on finance documentation by Slaughter and May partner Helen Griffiths, provided the other 50 per cent.