Macquarie Asset Management makes debt investment in Barcelona Metro Line 9

Macquarie Asset Management, on behalf of its institutional clients, has provided long-term debt financing to the consortium responsible for the operation and maintenance of Line 9, Section 1 of the Barcelona Metro.

Section 1 forms part of the 48-kilometre line which will be the longest automated metro line in Europe when it is completed in 2026, with 39 stations covering five municipalities within Barcelona’s metropolitan area. Connecting key destinations including El Prat Airport to the city centre, the driverless metro line is expected to serve up to 165 million passengers each year.

The 16-year financing agreement was provided to the concession holders Vauban Infrastructure Partners, Aberdeen Infrastructure and Copisa as part of a €1.2 billion debt package.

Eric Henschel, a Senior Vice President at Macquarie Asset Management, said: “We are excited to help finance this important public-private infrastructure project. The metro line is already providing significant additional capacity in the local transport system and reducing congestion on the city’s roads. By connecting new areas to the network and cutting journey times, once completed, Line 9 will make Barcelona an even greater place to live, work, study and visit.”

Macquarie Asset Management’s private credit platform has been financing Spanish infrastructure projects for more than three years. This includes having invested over €550 million in the local power and renewable energy sectors, and most recently having provided €60 million of debt financing to a consortium which operates the AG-31 road in northern Spain.