Macquarie Asset Management supports ALTTA with financing for French ski area concessions

Macquarie Asset Management has today announced an agreement to provide long-term debt facilities to support ALTTA, a local authority-owned SPL (“Société Publique Locale”), which will hold the 30-year concessions for the operations of the Tignes and Sainte-Foy-Tarentaise ski areas in France.

The 20-year debt financing will provide ALTTA with stable, long-term capital for the ski resorts’ operation of the lift infrastructure, management of the slopes and mountain environment, and other strategic development plans.

Alexis Chiesa, a Senior Vice President at Macquarie Asset Management, said: “On behalf of the local government, ALTTA will play a vital role in managing and investing in the infrastructure that supports the world class ski areas of Tignes and Sainte-Foy-Tarentaise. We’ve worked closely with ALTTA to understand its financing needs and are pleased to announce this agreement, which will enable continued investment in the ski infrastructure as well as transition and diversification projects in line with the local government’s long-term objectives. We look forward to supporting ALTTA in the years ahead as it delivers lasting benefits for local communities and the regional economy.”

Clément Colin, Chairman of the Board, at ALTTA, said: “ALTTA is the product of extensive reflections on the future of Tignes and its Grande Motte glacier, which led to the Tignes 2050 project. We’re pleased to be working with Macquarie, and with their support we aim to ensure that Tignes and Sainte-Foy-Tarentaise remain vibrant, sustainable year‑round communities by strengthening their collective ability to adapt to change. We look forward to the partnership over the coming years.”

Macquarie Asset Management, the world’s largest infrastructure asset manager¹, has significant experience in the social sector, working in close partnership with local authorities across the globe. Macquarie Asset Management’s Credit & Insurance offering provides debt solutions, for example supporting the City of Westminster’s acquisition of affordable housing, funding the upgrade of healthcare facilities for NHS Trusts across the UK Midlands, and providing in excess of €2 billion of debt to social housing providers and local authorities across Europe.