Vauban Infrastructure Partners
HCOB participated with EUR 60.5 million in refinancing for Barcelona’s metro stations.
Improving Barcelona’s infrastructure
Project details
HCOB contributed EUR 60.5 million to a syndicated financing for the operation and maintenance of thirteen stations of the first section of Barcelona’s metro Line 9. An international banking group provided the project company which operates “L9T1” with nearly EUR 600 million debt for the refinancing of the infrastructure project. The shareholders of the project company are funds managed by Vauban Infrastructure Partners and abrdn (formerly Aberdeen Infrastructure). In addition to the banking club, various international institutional investors participated in the refinancing with a second tranche of approximately the same amount.
The project is a concession for the operation and maintenance of the metro stations of the first section of Line 9 (L9T1) with a remaining tenor of about twenty years under a public-private partnership arrangement (PPP) between the regional government of Catalonia and a private operator. Barcelona’s Line 9 is Europe’s longest metro line covering 48 km and connects the airport and the city center.
Key facts
|
Volume |
EUR 60.5 million |
| Product | Term Loan |
| Role of HCOB | Original Lender |
| Year | 2021 |
“Financing infrastructure is one of our core businesses, in which we have been successfully active throughout Europe for many years. This project stands out in particular because of the PPP structure and the two experienced infrastructure sponsors.
Inka Klinger,
Head of Project Finance
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Inka Klinger
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