The European Investment Bank (EIB) will grant a Euro360-million, 30-year credit facility to a Cintra-led company building 96 km of highways serving Madrid. The project is comprised of two linked segments: the R-4, a 50-km toll access road concessioned for 65 years and a 46-km segment of M-50, an untolled orbital to be funded by the private concessionaire via a cross subsidy. Prior to the opening of R-4 to service, the M-50 segment must be transferred to state ownership ready for full traffic, a requirement of the concession.

France’s Societe Generale, SA, and Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), will be co-leaders of the syndicated bank loan for a newly established infrastructure company formed to operate R-4 for the franchise lifetime by the concession group leader Cintra, Ferrovial’s toll road subsidiary in which Macquarie Infrastructure Group (MIG) owns a 40% stake.