Eiffarie and the motorway concession holder APRR (Autoroutes Paris-Rhin-Rhône), which both are owned by Eiffage and Macquarie managed funds, have completed on 23 February 2015 the second refinancing, for an amount of €1.5 billion, of the debt initially incurred by Eiffarie for the acquisition of APRR and the implementation of a new revolving credit facility (RCF) for APRR in an amount of €1.8 billion. This new credit facility, replacing the €0.7 billion existing undrawn revolving facility, increases APRR's liquidity by €1.1 billion.

Clifford Chance advised the sponsors Eiffage and Macquarie with a team led by Daniel Zerbib, partner, with the support of Benjamin de Blegiers, counsel, Guy Abehsera, Chloé Desreumaux and Audrey Manera on the debt aspects and Fabien Jaquemard on Eiffarie's rate hedging agreements. Katia Gruzdova, counsel, advised the sponsors on the tax aspects of the refinancing.