Assured Guaranty Guarantees €93.7 Million Loan to Metro de Madrid, S.A.

Assured Guaranty (Europe) SA (AGE)*, an indirect subsidiary of Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty), announced that it has guaranteed principal and interest payments on a €93.7 million loan to Metro de Madrid, S.A. (the Borrower) on 27 December.

This financing represents AGE’s first transaction with the Borrower. The 20-year, floating-rate loan guaranteed by AGE was provided by Bankinter, S.A.

The proceeds will be used to partially fund the acquisition of 40 new narrow gauge and 40 new wide gauge trains that will replace the rolling stock used on lines 1, 6 and 8 of the Madrid underground network.

Raphael de Tapol, Directeur Général of AGE, commented:

“We are very pleased to have closed this transaction for Metro de Madrid, which shows the value of our financial guarantee for borrowers looking to issue long term debt more cost-effectively. It is a key milestone in our strategy to strengthen our presence in a wide range of sectors within the European market.”

Raul Serrano, Director, Infrastructure Finance of AGE, commented:

“After successfully providing credit protection to various banks in the secondary market in recent years, the closing of this transaction alongside Bankinter marks the first time since the global financial crisis that we have executed a primary market deal with a bank as beneficiary of our financial guarantee. We believe we will have similar opportunities in 2024, across various sectors, as more and more financial institutions are actively looking for ways to manage their portfolio exposure and lend in a more capital-efficient way.”

Domiciled in Paris, AGE conducts Assured Guaranty’s financial guarantee business in continental Europe. AGE is rated AA by S&P Global Ratings and AA+ by Kroll Bond Rating Agency.

AGE’s legal adviser on the transaction were Linklaters LLP in London and Madrid.

IMPORTANT NOTICE

All of the securities have been sold, and this announcement is for information purposes only. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended ("Securities Act"), or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered, sold or transferred, directly or indirectly, in the United States absent registration under the Securities Act or an available exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and the securities laws of any state or other jurisdiction of the United States.