Concessió Estacions Aeroport L9 S.A., the consortium responsible for the Barcelona Metro Line 9 - section 1 project, has refinanced its EUR1.174 billion (US$1.322 billion) debt. The consortium comprises Vauban Infrastructures Partners and Aberdeen Standard Investments.

The refinancing was done by means of a senior facility agreement and a bond issuance in which EUR584 million (US$658.03 million) were raised by senior facility agreement and EUR590 million (US$664.03 million) by bond structured and listed on the Frankfurt Stock Exchange. Clifford chance acted as financial advisor to the consortium. 

Line 9, section 1 of the Barcelona Metro network connects the city center with the Barcelona International Airport. The project's cash flow and good financials have contributed to strong interest from European, Asian and USA investors.  The project is considered one of the most relevant infrastructure projects in Catalonia.