A&O advises lenders on €350m sustainability-linked loan

Allen & Overy Spain has advised the lenders on the syndicated financing granted to Roca for an amount of €350 million, which is linked to sustainability criteria

Roca Group has closed with BBVA, CaixaBank, Sabadell, Santander and BNP Paribas the anticipated renewal of a syndicated loan that expires in 2023 and incorporates environmental/sustainability standards for the first time.

After slicing its internet financial institution debt by 47% last year, to €194 million, Roca Group has simply renewed with five entities, prematurely, a syndicated loan that didn’t expire till 2023, within the first group´s transaction linked to sustainability. The new loan is linked to the achievement of two sustainability indicators: the reduction of carbon emissions and the reduction of annual water consumption in the group’s industrial activity.

Allen & Overy´s team advising the lenders was made up of partner Jimena Urretavizcaya (pictured left), senior associate Sofía Sánchez-Calero (pictured top right) and associate Pelayo González (pictured bottom right).