Jimena Urretavizcaya

Allen & Overy on the first credit line linked to sustainability parameters

Allen & Overy has advised the syndicate of banks, led by CaixaBank, in connection with the renewal and extension of a credit facility incorporating sustainability criteria for the first time, granted to the telecommunications company Hispasat for €250m, for the implementation of its strategic plan.

Redeia’s satellite communications operator, Hispasat, offers broadband and satellite connectivity solutions in the Americas, Europe and North Africa. It also broadcasts and distributes audiovisual content in spanish and portuguese.

Hispasat, made up of companies with a presence in both Spain and Latin America, is one of the world’s leading companies by revenue in its sector and the main communications bridge between Europe and America.

The syndicate of banks, made up of five financial institutions, has granted Hispasat this financing to reinforce its liquidity and support the execution of its 2020-25 strategic plan.

This agreement, which extends and expands the credit line currently in force, allows the terms and conditions of the financing to be adapted to ESG (environmental, social and governance) criteria and indicators aligned with Redeia’s policies in this area.

Allen & Overy advising team was formed by the partner, Jimena Urretavizcaya (pictured); the senior associate, Sofía Sánchez-Calero Barco; and the associate, Marta Peláez Díez.

Irina Wakstein