The following major Australian banks and international lenders have signed onto providing over $3.2 billion in project loans for WestConnex:
- Credit Agricole CIB Australia
WESTCONNEX IS PROCEEDING WITH THE SUPPORT OF THESE BANKS - LET THEM KNOW WHAT YOU THINK
M4 Widening and M4 East
A $1.7 billion non-recourse senior debt facility has been established with the following major Australian banks and international lenders: Commonwealth Bank of Australia, Credit Agricole CIB Australia, ING, National Australia Bank, Natixis and Westpac Banking Corporation.
$1.5 billion in private sector finance for the New M5 from major Australian and international lenders - Commonwealth Bank of Australia, Credit Agricole, National Australia Bank and Westpac Banking Corporation.
These loans are supporting the federal government’s $2 billion concessional loan plus $1.5 billion in grant funding. The NSW Government is providing $1.8 billion.
In November 2016, the NSW Government via Treasury contracted investment bank Goldman Sachs and law firm Ashurst as well as accounting firm PwC, to provide financing and potential sale advice for WestConnex.
The role is understood to include a confidential scoping study report which is to be delivered early in the year and considered as part of the state's 2016-17 budget process.
The Australian toll company Transurban has a 10 year history of managing and developing toll roads in Australian and the USA. It's one of the largest toll road owners and operators in the world and virtually has a monopoly on private roads in Australia with control of 13 of the 15 toll roads in Melbourne, Sydney and Brisbane.
SMH journalists Ben Schneiders and Royce Millar stated in May 2016 that few, if any, countries in the world have allowed a private operator to control so much of their road network.
The people of NSW will pay large tolls on all sections of WestConnex for decades to come.
WestConnex will drain funds from public transport projects while causing increased traffic congestion, pollution and destruction of homes and our environment.
CONTACT YOUR BANK AND TELL THEM WHY SUPPORTING WESTCONNEX IS WRONG