Clifford Chance has advised Metro Ligero Oeste, S.A. on the refinancing of its existing debt by means of a Spanish law senior facilities agreement. The project’s cash flow is supported by its operational excellence and robust track record of KPI achievements together with good financials and has driven strong interest from significant investors in Europe, US and Asia.

Metro Ligero Oeste, S.A. is the concessionaire of the ML2 and ML3 light railway lines that connect Madrid and the cities of Boadilla del Monte, Alcorcón and Pozuelo de Alarcón to the Madrid Region underground, suburban rail and bus network, one of the city’s most important light railway lines.

Clifford Chance’s multijurisdictional team was led by Global Financial Markets partner José Guardo who was supported by counsel María Sabau and associates Juan Puras and Angel Muñoz.

The Global Financial Markets team dealing with crossborder aspects of this transaction also included partner Bas Boris Visser and associates Victor ten Have and Niels Kuil from the Amsterdam office.

This is one of the largest refinancings for a transport concession project which has taken place in Spain this year. The team’s involvement in this transaction, together with similar ones completed in recent months, demonstrates Clifford Chance’s leading position as the go-to advisor in the most complex and relevant infrastructure deals in the Spanish market.