In 2015 DIF acquired stakes in a portfolio of 5 operational Spanish PPP projects from Iridium, comprising metro station in Barcelona, three transportation hubs in Madrid and the Majadahonda Hospital in Madrid;
The metro project was fully commissioned in 2011, while the other projects have been operational since 2008;
The cost of the 5 projects was € 1.3 billion;
The projects’ revenues are based on availability payments, with up to 27 years of the concessions remaining;
All the projects have been financed with long term non-recourse debt provided by a large group of largely Spanish banks;
DIF’s acquisition was supported by two co-investors.