The latest issue of the magazine Project Finance, which analyses the most significant deals in Europe in 2008, awarded the “Túnel do Marão” transaction the “European Infrastructure Deal of the Year 2008”.
This transaction turned out to be particularly challenging and complex from a legal and financing perspective due to the fact that it was the first deal to reach financial close under the new legal framework which introduced Estradas de Portugal, SA (“EP”) as road concession Grantor instead of the Portuguese Republic. The deal also represents an important benchmark considering that it was the first road deal in Portugal in which the EIB assumed direct project risk and the first project to use the the EIB Loan Guarantee for TENS Transport (LGTT Guarantee).
Filipe Lowndes Marques headed the team of MLGTS lawyers involved in this deal, assisted by Filipa Morais Alçada and Elmano Sousa Costa.
