The financing, which is being provided by a group of European and American institutional investors, sits under a new common terms platform, which will provide financial and operational flexibility to support the business’ future growth.

Jan Skuhravy, infrastructure partner in A&O’s London office, who co-led the Allen & Overy team, commented: “We have been pleased to support Parkia and the sponsors Igneo Infrastructure Partners in this process.”

The Allen & Overy team in London was led by partners Jan Skuhravy in London and Vanessa Cuellas in Madrid, who were  supported by associates Rachael Coffey and Joon Ku Kang in London, as well as senior associate Nuria Castro and associates Maria Ruiz-Gollury and Luis Espejo in Madrid. Specialist tax advice was provided by Madrid counsel Ishtar Sancho and associate Marina Granada. US securities law advice was provided by partner Jeff Hendrickson and clerk Ariana Mercado.