IFLR1000

Algarve motorway concession restructuring

1/9/2015
Project development, Project finance, Concession
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€ 400 million

$ 430.612 million

Completed

1/9/2015

Overview:

  • Euroscut - Sociedade Concessionária da SCUT do Algarve successfully restructured the existing debt of the A22 motorway in the Algarve, around €400 million. 
  • As well as the restructuring of previous indebtedness, the financing will cover the conversion of the road into a tolled motorway and its ongoing operation. 
  • The project is key in the Portuguese infrastructure program. 

John Crabb - Journalist 

Jurisdiction:

Portugal

Deal types:

Project development
Project finance
Concession

Practice areas:

Project finance
Project development

Governing law:

Portugal

Industry sectors:

Transport
Social infrastructure

Firms:
António Frutuoso de Melo e Associados

Party: Citibank (Lender)

Party: European Investment Bank - EIB (Lender)

Party: Syncora Guarantee Inc (Lender)

Macfarlanes

Party: Euroscut (Sponsor)

Lawyer: Richard Fletcher

Uría Menéndez – Proença de Carvalho

Party: Euroscut (Sponsor)

Lawyer: Bernardo Diniz de Ayala

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