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WFW advises Abanca on wastewater treatment infrastructure project refinancing1 August 2023

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Watson Farley & Williams (“WFW”) advised Abanca Corporación Bancaria (“Abanca”) on the refinancing of an infrastructure project comprising seven wastewater plants treatment in Aragón, Spain. The plants are all located in zone 08-C of the region’s special wastewater treatment plan.

The assets were refinanced under a PPP structure in a facility agreement subject to Spanish Law, with the concession granted by the Public Administration (Instituto Aragonés del Agua). The project is owned by a joint venture including various companies in the Rubicon Capital Advisors (“Rubicón”) and Sorigué (“Sorigué”) groups.

Founded in 2011, Abanca is a Spanish bank with 5,000+ employees across its eleven offices in in the UK, Germany, France, Switzerland, Brazil, Venezuela, Panama, Mexico and US.

Rubicon is one of the world’s leading investment banking firms focussed solely on the infrastructure, energy and utilities sectors. Sorigué is a leader in the construction, services, materials, technology and water engineering sectors.

The WFW Madrid Projects team that advised Abanca was led by Partner Jose María Anarte, working closely with Senior Associate Antonio Cáneva and Associates Arancha Ruesta and Diana Palazón. Counsel Luis González and Associate Paula Pérez provided regulatory advice, with Senior Associate Román Pazos and Associate Mar Clavijo advising on the corporate aspects of the transaction.

Jose María commented: “It was a real pleasure to advise Abanca on this strategic transaction with leading national and international players specialising in the energy infrastructure space. Infrastructure, especially relating to energy projects, is a key area of focus for WFW and working on such an important deal as this for the Spanish market really highlights our in-sector expertise across multiple service lines”.

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