Travers Smith LLP has advised Allianz, Carlyle and MetLife a €370 million private placement for Igneo Infrastructure Partners' (Igneo) refinancing of Spanish car park operator Parkia.
Madrid-based Parkia runs one of Spain's largest portfolio of off-street car parks, with over 38,000 parking spaces across 44 locations in Spain and Andorra. The car parks operate under concession contracts with local municipalities.
The financing will provide Parkia with a flexible operating and financial framework to continue growing and diversifying its portfolio and serve as an important tool to continue consolidating the Iberian market.
The Travers Smith team was led by Finance Partner Ben Thompson, Senior Associate Kanwal Majeed, and Associates Katchenin Kone and Will Legood.
Finance Partner Ben Thompson commented: "We are delighted to have supported the Funders and Igneo on this private placement. This transaction demonstrates our expanding lender-side infrastructure finance practice, advising across the wide range of financing events and products, including privately placed notes under multi-creditor platforms."
Cuatrecasas advised the lenders on the Spanish law aspects of the transaction, and Allen & Overy advised Igneo.