CIC Corporate & Institutional Banking acted as Senior Lender and Hedging Bank in the EUR 375 million refinancing of Cedinsa, a road concession company majority-owned by the infrastructure investment manager Vauban Infrastructure Partners.
Cedinsa owns a portfolio of three brownfield shadow toll roads in Catalonia (C-16, C-17 and C-35), totaling 116 kilometers, as well as Cedinsa Conservació (Ceconsa), its operations and maintenance company. The roads managed by Cedinsa are integral to the transportation infrastructure in central Catalonia and Girona, strengthening regional connectivity to Barcelona and supporting sustained economic development across the area.
The EUR 375 million refinancing has been structured through three facilities : a long-term floating-rate facility, a debt service reserve facility and a letter of credit facility. The financing matures in June 2038.
