A&O and Linklaters advise on the €600m financing agreement of Bruc

Allen & Overy and Linklaters have advised on the 600 million euros financing agreement for the construction of its portfolio of 8,500 megawatts (MW) renewable projects in Spain of Bruc.

Bruc has signed a financing agreement with seven entities in the amount of 600 million euros. This amount guarantees a substantial part of the contributions required for the investment in the construction and commissioning of a portfolio of solar photovoltaic and wind generation plants in Spain totaling 8,500 megawatts (MW).

The structuring entities of this corporate finance package are Santander, ING, Instituto de Crédito Oficial, BNP Paribas and Intesa Sanpaolo (as bookrunners and MLAs) and Schroders Capital and Infranity (as MLAs).

The financing agreement has been substantiated under the formula of “corporate sustainable financing”, given that the entities have considered ESG (Environmental, Social and Governance) criteria. Bruc’s positioning in the clean energy sector was already key for the pension funds OPTrust and USS to enter the company’s capital in 2016 and 2021, respectively.

Allen & Overy team has advised Bruc and its team involved has been formed by: Vanessa CuellasNúria FerréJoan CarbonellEmilio Martínez and Natalia Ojeda.

Linklaters has acted as legal advisor to the funders, with a team formed by Juan Barona, Javier Hernández, Cristina Muiño and Patricia Rovira.

Julia Gil