Iridium closes the financing for the concession project of Section IV of Barcelona Metro Line 9 (Spain) for an amount of Euro 544 million.

Línea Nueve Tramo Cuatro SA, 50% partly owned by the subsidiary of Iridium Concesiones, CAT, Desenvolupament de Concessions Catalanes, S.L., has successfully closed the financing of Euro 544 million for Section IV of Barcelona Metro Line 9, for the financing, construction and operation of the 13 stations that comprise Section IV. The value of the investment is approximately Euro 605 million, of which 347 million correspond to the down payment for the works carried out prior to signature of the concession agreement. The duration of the agreement is 31 years and 9 months. Ten (10) stations of Section IV already have the commissioning certificate, the final date for putting the whole section into operation being August 2013.

The financial set-up of the Project consists of a 26-year bank advance for an amount of Euro 344 million and a loan from the European Investment Bank (EIB) for Euro 200 million. The financing syndicate consists of the following banks: La Caixa, Banco Santander, Caja Madrid and BBVA.

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