Italy's atlantia, Spain's acs and its majority-owned German construction firm hochtief completed the €16.5bn co-acquisition of Spanish toll-road group abertis, after putting €16.8bn of loans and equity in place for a new holding company. The unsecured and non-recourse loans for Abertis HoldCo comprise a €3bn amortising term loan with maturities of between four and five years; a €4.7bn 18-month bridge to bond; and a €2.2bn bridge to disposal, of which €1.75bn will be repaid with the proceeds from the sale of Abertis' stake in Cellnex that was completed in May.
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