Rubicon advises Autopista Central Gallega (“ACEGA”), a Spanish PPP toll road, on its €175 million refinancing utilising a dual bank and bond financing structure
Rubicon advises Autopista Central Gallega (“ACEGA”), a Spanish PPP toll road, on its €175 million refinancing utilising a dual bank and bond financing structure
Rubicon Infrastructure Advisors (“Rubicon”) is pleased to announce that financial close has been reached on the €175 million refinancing of Autopista Central Gallega through the issuance of a privately placed bond and senior bank debt facility. ACEGA operates, under a 75-year concession agreement with the Spanish Government, a 56.6 km operational toll road between Santiago de Compostela and Alto de Santo Domingo in Galicia (Northwest Spain).
ACEGA is majority owned by Globalvia, one of the world’s leading infrastructure managers.
Rubicon acted as the exclusive financial advisor to ACEGA and Globalvia on the procurement of senior debt from a syndicate of international institutional and bank lenders to replace ACEGA’s existing lending facilities.
Commenting on the transaction, Arlynejane Divilly, Director of Rubicon said:
“We are delighted to have assisted ACEGA and Globalvia on this transaction, delivering an innovative financing structure. The transaction combines a privately placed bond with a senior loan facility and attracted interest from leading international institutional and bank lenders. This transaction represents our inaugural Spanish debt procurement which complements our market-leading presence in the Spanish infrastructure M&A sector and reinforces our prominent position as one of the leading infrastructure financial advisors in Europe.”
This transaction marks Rubicon’s eighth successful deal in 2016 and its fourteenth transaction in the past 18 months, representing 27 individual assets with a combined enterprise value in excess of €8.0 billion. This proven track record led to Rubicon being recognized as one of the top 10 global financial advisory firms in 2015.
About Rubicon Infrastructure Advisors
With representation in Dublin, New York, Madrid and Sydney, Rubicon is a specialist investment banking firm focused solely on the global infrastructure and energy market. The firm’s team comprises industry experts with extensive experience and who have advised or structured over €200 billion worth of infrastructure transactions across multiple sectors and jurisdictions (www.rubiconinfra.com).
About Globalvia
Globalvia currently manages 29 infrastructure projects including roads, railways, ports and hospitals. Globalvia is present in 8 countries: Spain, USA, Portugal, Ireland, Andorra, Mexico, Costa Rica and Chile and manages more than 1,500 km of highway and more than 90 km of railway lines (www.globalvia.com).