The Land of Montout, 100% subsidiary of Olympique Lyonnais Groupe (OL Group) has completed the financing for the construction of the new stadium of Olympique Lyonnais.

This funding includes an equity financing of € 135 million, bond financing of € 112 million (signed by an entity of the Vinci group for an amount of € 80 million and the Caisse des Dépôts et Consignations for an amount of € 32 million) , a senior bank financing of € 146.5 million and finance leases of € 8.231 million.

To add funding the guaranteed income during the construction phase of an amount of approximately € 13.5 million and a senior tax credit.

For the purposes of equity financing, OL Group will issue a subordinated redeemable for new or existing shares (Osranes) an amount of 80M € with subscription subject to a guarantee by Pathé and ICMI the main shareholders of OL Groupe.

It is interesting to note that this is, in France, the first construction project entirely private stage. The law firms involved in this project have had to rely on skills both in the field of sports law, real estate law and project financing.

Business law firm Clifford Europe LLP international Chance advised the senior banks in the financing in place.

The Clifford Chance team was composed of Daniel Zerbib, partner, Benjamin Blegiers, counsel, Bruno Vannini, Roy Charles Bates, and for aspects of construction law, Anne-Sophie Ple, counsel.