Barcelona metro line 9 refi closes
Sponsors of the Barcelona metro line 9 (L9) section 4 in Spain — Global Borealis - 50% (Global Borealis is 80% owned by DIF and 20% by Iridium); Queenspoint – 36.5% (Queenspoint is owned by Allianz Capital Partners and ATP); and John Laing Infrastructure Fund – 13.5% — closed refinancing on the €720 million debt backing the scheme on 20 January this year.
The project, a new automatic subway line integrated within Barcelona´s underground network, interconnecting 5 municipalities in the surrounding metropolitan area, was awarded in 2008 and has a 31-year 9-month concession expiring in 2040.
A total of 15 banks and institutional investors provided the latest refinancing, including the EIB. German financial services company Talanx notably took the largest ticket extending €125 million in financing. The debt has an 18-year tenor at fixed interest rate. BBVA and Goldman Sachs provided legal counsel to the sponsor.
