CaixaBank has formalized its first project financing operation (Project Finance) in New Zealand by participating in the refinancing of the debt of the Ara Tühono-Puhoi-Warkworth highway, on the North Island of New Zealand, which has amounted to 779 million New Zealand dollars (about 430 million euros).

It is a public-private collaboration between the Government of New Zealand and the Northern Express Group consortium, and CaixaBank has been “the only European bank” of the group of seven participating banks, with a ticket of 80 million New Zealand dollars (about 45 million euros), the bank reported this Wednesday in a statement.

CaixaBank’s participation in this operation is the result of the work carried out by the entity to “continue growing” on the oceanic continent after the closing of the refinancing of the Sydney Light Rail in 2021, which was the first project financing in Australia and the the entity’s first sustainable financing operation in the Asia-Pacific region.

The new highway route allows for “less traffic congestion in the corridor, greater efficiency, more reliable travel times, and greater road safety for all users, driving economic and population growth in the region.”

The entity is present in New Zealand through its representative office in Sydney (Australia), which opened in 2018 and became the only Spanish bank in the country, and in its product portfolio it offers solutions for exporters such as Trade Finance, cash and working capital management, among others.