FC for Pocahontas Parkway sale

Spanish transportation firm Globalvia has reached financial close on its purchase of the Pocahontas Parkway from investor Macquarie.

The signing of the $600m transaction was financed through a combination of equity and debt, provided by Allianz through a series of long-term bonds. 

Legal advice on the deal was provided by Chadbourne & Parke, with financial advice from RBC Capital Markets. Bond advisor on the deal was White & Case. Pocahontas Parkway was previously owned by a unit of Macquarie (50.5%), along with two other equity consortium partners: CPP and Centerbridge. 

Globalvia agreed to purchase a stake in the highway in August. The deal represents Globalvia’s first foray into the US market, although it already has a presence in New York.