SergioCires

Of Counsel

Madrid + 34.91.520.3939

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Sergio Cires has more than 10 years of experience in the areas of banking, project, and acquisition finance with a particular focus on energy and infrastructure projects involving public-private partnerships (PPPs). He represents domestic and international financial entities, equity funds, debt funds, and corporations in project, leveraged, acquisition, real estate, corporate, and asset-backed finance as well as debt restructurings and refinancings. He has extensive experience working on cross-border transactions in Europe and Latin America.

Recent significant transactions include the representation of Portobello Capital in the acquisition financing of a group of several companies operating in the sanitary sector throughout Spain; several transactions in the infrastructure and renewable energy sectors such as the representation of the Toledo Hospital consortium in the financing of the construction, maintenance, and exploitation of the Toledo University Hospital in Spain; advising Sacyr, Valoriza Conservación de Infraestructuras, and Marguerite Silver in connection with the refinancing, through a bond issuance listed in Frankfurt, of the Arlanzón highway project in Spain; and the representation of a syndicate of financial entities in the refinancing of a €293.1 million debt granted for the construction, maintenance, and exploitation of a 49.9 MW thermal solar plant located in Cordoba, Spain.

Sergio is coordinator of Jones Day Madrid's pro bono practice. He also collaborates with IE Business School, University of Navarra (UNAV) and teaches a course on project finance at ISDE (Madrid).

Experience

  • Macquarie Asset Management acquires 50% shareholding in Island Green PowerJones Day advised Macquarie Asset Management ("MAM"), via Macquarie Green Investment Group Renewable Energy Fund 2 ("MGREF2"), in its acquisition of 50% of the shares in Island Green Power Limited, a UK-based renewable energy developer focused primarily on the development of utility-scale solar plants.
  • Iridium Concesiones de Infraestructuras, S.A. (ACS group) sells 80% stake in Nuevo Hospital de ToledoJones Day advised Iridium Concesiones de Infraestructuras, S.A. (ACS group) in the €58 million sale of its 80% interest in Nuevo Hospital de Toledo, S.A. to BSIP Spain HoldCo, S.L., a company managed by Brookfield.
  • BBVA provides €54 million acquisition financing to group specialized in sector of connection and control of fluids and kitchen and bathroom taps in both residential and non-residential areas and civil worksJones Day provided legal advice to Banco Bilbao Vizcaya Argentaria, S.A. in the €54 million acquisition financing of 100% of the share capital of Standard Hidráulica, S.A.U.; Hidrogas Canalizaciones, S.A.U.; Hidrostandard del Mediterráneo, S.L.U.; STH Westco Holdings Ltd.; STH Westco Limited; STH Hidraulica Ellas Single Member, S.A.; and Standard Hidraulica Southern Africa Plumbing and Heating Equipment (Pty) Ltd., a group specialized in the sector of the connection and control of fluids and kitchen and bathroom taps in both residential and non-residential areas and civil works, by IEE21 Europe, S.L.U.,a newly created Spanish company sponsored by H.I.G. European Capital Partners 3 Fund, LLC.
  • Renewable Energy Holding S.à r.l. acquires two Spanish solar PV plantsJones Day advised Renewable Energy Holding S.à r.l., a Luxemburg-based asset manager, on the acquisition of two solar PV plants (Altarejo and Moratalla) in Spain.
  • Athos Solar refinances existing intra-group debt held by Fotovoltaica Campanario I, S.L.Jones Day provided legal advice to Athos Solar GmbH in connection with the refinancing of the existing intra-group debt held by Fotovoltaica Campanario I, S.L.
  • Banco Santander provides financing to Amara, S.A.Jones Day provided legal advice to Banco Santander, S.A. in connection with the financing granted to Amara, S.A. and certain affiliates of its Group, specialized in the distribution of materials and the management of logistic services for the energy, telecommunications, and industry sectors present in Spain, United States, Mexico, Brazil, and China.
  • Portobello Capital sells EYSA to H.I.G. CapitalJones Day advised Portobello Capital in the sale of EYSA, a market-leading provider of smart mobility solutions, to an affiliate of H.I.G. Capital.
  • Banco Santander finances acquisition of Carcamóvil, SLUJones Day provided legal advice to Banco Santander, S.A. in connection with the financing of the acquisition by the sponsor ProA Capital of the Spanish company Carcamóvil, SLU, owner of the La Casa de las Carcasas business, a well-known group specializing in mobile phone accessories.
  • Enel Green Power España finances wind park in municipality of Fuendetodos (Zaragoza, Spain)Jones Day provided legal advice to Enel Green Power España in connection with a €20 million bridge loan and subsequent circa €17.5 million project financing of a 23.93 MW wind park located in the municipality of Fuendetodos (Zaragoza, Spain).
  • CBRE Global Investors disposes of Spanish logistics portfolio to BankinterJones Day advised CBRE Global Investors, on behalf of its value-add fund European Value Partners (EVP 2), and its joint venture partner Valfondo (a developer and manager of Montepino logistics assets in Spain) on the sale to Bankinter of a portfolio of 22 Spanish logistics assets, totaling 865,000 sqm, together with a development pipeline of a further 13 logistics assets.
  • Caixabank refinances Envases Soplados, S.L.Jones Day provided legal advice to Caixabank, S.A. (f.k.a. Bankia, S.A.) in connection with the refinancing of Envases Soplados, S.L. by the newco Roneta Investments, S.L., sponsored by GED Capital.
  • Banco Santander provides bridge financing to subsidiary of OPT/Bruc groups for acquisition of certain photovoltaic projects in SpainJones Day provided legal advice to Banco Santander, S.A. in connection with the bridge financing granted to a subsidiary of OPT/Bruc groups to acquire certain photovoltaic projects in Spain.
  • Aberdeen refinances current financial debt in connection with concession of public building in Seville, Andalusia, SpainJones Day advised Aberdeen, as sponsor, in the refinancing of its current financial debt granted in connection with the concession of a public building located in Seville, Andalusia, Spain.
  • Portobello Capital acquires BT España Compañía de Servicios Globales de Telecomunicaciones, S.A.U.Jones Day advised Portobello Capital Gestion SA SGEIC in the acquisition and related financing of the Spanish company BT España Compañía de Servicios Globales de Telecomunicaciones, S.A.U., whose primary activity is the provision of telecommunication services.
  • Sacyr Concesiones S.L. obtains $451.5 million project financing for Colombian toll road projectJones Day represented Sacyr Concesiones S.L., as sponsor, Unión Vial Río Pamplonita S.A.S., as concessionaire, and Fideicomiso Unión Vial Río Pamplonita S.A.S., as borrower, in connection with a $451.5 million long-term project financing, consisting of a U.S. dollar tranche and Colombian Peso debt tranches, provided by a syndicate of major financial institutions led by Deutsche Bank AG, New York Branch and JPMorgan Chase Bank, N.A.
  • Infrastructure fund advised regarding bids for shadow toll roads and other infrastructure assetsJones Day advised infrastructure fund in connection with bids for shadow toll roads and other infrastructure assets.
  • Spanish financial entity provides financing for 50 MW solar plant located in Andalucia, SpainJones Day provided advice to a Spanish financial entity in connection with the financing of a 50 MW solar plant located in Andalucia, Spain developed by a Spanish promoter.
  • Aberdeen Infrastructure acquires 47.5% of Autopista del Guadalmedina, Concesionaria Española, S.A.U.Jones Day advised Aberdeen Infrastructure (HoldCo) B.V. in the acquisition of 47.5% of the share capital and related financing of the Spanish company Autopista del Guadalmedina, Concesionaria Española, S.A.U., the concessionaire that manages the Guadalmedina highway (AP-46 Málaga – Las Pedrizas).
  • Banco de Sabadell provides financing for construction and operation of two photovoltaic solar plants in BadajozJones Day provided legal advice to Banco de Sabadell, S.A. in connection with the structuring and implementation of the financing for the construction and entry into operation of two photovoltaic solar plants of 50 MW of nominal power each and its corresponding evacuation infrastructure located in Badajoz.
  • Banco Sabadell and other lenders restructure €100 million San Sebastián de los Reyes Hospital project in Madrid, SpainJones Day advised Banco Sabadell, S.A. and corresponding members of a larger syndicate on the shareholding restructuring of the €100 million San Sebastián de los Reyes Hospital project in Madrid, Spain.
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    December 2015 Commentaries

    Recent Amendments Come into Force in Relation to the Spanish Public Notaries Act

    June 2009 External Publications

    "Green" Gold Rush - is offshore wind the next big nugget in Spain?, Infrastructure Journal

    November 2008 External Publications

    Nueva regulación de las instalaciones fotovoltaicas ¿intranquilidad o sosiego?, Diario Negocio

    November 2008 External Publications

    Nueva regulación de las instalaciones fotovoltaicas ¿intranquilidad o sosiego?, Legal Today

    Speaking Engagements

    • 21 noviembre, 2017
      El futuro de los PPAs en España

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