Pérez-Llorca Advises Grupo Lantania on MARF Program Launch

Grupo Lantania has initiated its first commercial paper program on the BME Fixed Income Market (MARF), with a maximum outstanding balance of up to €50 million. The commercial papers issued under this program will have unit face values of €100,000 and maturity periods ranging from three days to a maximum of 24 months.

This transaction enables the infrastructure, water, and energy company to diversify and expand its funding sources by accessing the Fixed Income markets. Lantania aims to fuel its growth while maintaining a prudent leverage structure.

In 2023, the group closed with revenues of €375 million, marking a 20% increase from the previous year and exceeding its forecasts. The company secured new contracts totaling €450 million during the year, boosting its backlog to over €700 million—nearly double its achieved revenues—with notable projects including the expansion of the Palma II wastewater treatment plant and the high-speed rail connection to Adolfo Suárez-Madrid Barajas Airport, among others.

The Group’s EBITDA reached €12.5 million, a 4% decline attributed to rising raw material costs, negative contributions from DSV Constructora and Ferroviaria (acquired in 2022), and Indania (launched in 2022), as well as investments in the water market that are expected to yield returns this year.

These results align with Grupo Lantania’s Strategic Plan 2022-2026, targeting €500 million in revenue and €25 million in EBITDA by 2026.

Pérez-Llorca Abogados provided legal counsel for the program. The team was composed by partner Carlos Pérez Dávila and lawyers Santiago Bertola as well as África Rodríguez and Ignasi Montesinos. Analistas Financieros Internacionales served as the Registered Advisor, and Banco Santander is the program’s Coordinating Entity. In addition to Banco Santander, Banco Sabadell will act as the Placing Entity for the commercial papers.