DLA Piper advises in the refinancing of Eix Diagonal
DLA Piper has advised Iridium Concesiones de Infraestructuras (ACS Group) and Federated Hermes Infrastructure on the refinancing of Eix Diagonal, the largest concession in its shadow toll road portfolio in Spain.
Eix Diagonal is a 65 km concession in the province of Barcelona, connecting the Costa Dorada with the center of Catalonia. The concession began operating in December 2011 and a construction program to widen the road, increasing capacity and reducing congestion was completed in December 2024. The refinancing of Eix Diagonal’s debt of more than €288 million was completed through long-term bank financing, which was used to repay the original debt.
The transaction was led by Federated Hermes Infrastructure and Iridium Concesiones de Infraestructuras (ACS Group), as sponsors of the concessionaire, with BBVA acting as financial advisor.
The DLA Piper team advising on the refinancing was formed by César Herrero, partner; Rocío Smith, legal director; Antonio Olarte, senior counsel; and José María Barrios, partner in charge of Public and Regulatory Law.
