Audasa

Case Study

PGIM supports Audasa with refinancing of upcoming maturities

Based in Galicia, Spain, Autopistas del Atlántico Concesionaria Española, S.A. (“Audasa” or the “Company”) holds the concession for the AP-9, a 220 km highway connecting Galicia from North to South.

At a Glance

PGIM’s relationship with Audasa began in 2022, when we provided €180.3 million to support the Company with a long-term refinancing under a complex market environment. Since then, we have been in contact and, in 2023, Audasa informed us that they were interested in a long-term financing to refinance upcoming bank maturities. In January 2024, PGIM provided a €84.9 million Senior Unsecured Loan Facility to the Company.

Audasa decided to partner with us given our i) existing, trusting relationship, ii) ability to provide long-term debt, and iii) certainty of execution.

We are very pleased to continue our partnership with Audasa and look forward to supporting the Company in the years to come. Our investment reinforces our local market presence and our ability to provide significant amounts of capital.

Relationship Since 2022

Transaction details:

€84,900,000 Senior Unsecured Loan Facility

“PGIM's understanding of our needs, coupled with their unwavering commitment and expertise, made them the right partner for us. We look forward to working with them as a trusted partner over the long-term.”

José Puelles Gallo, CFO
Grupo Itínere