CMS advises Iberdrola | bp pulse on €230M loan
CMS Albiñana & Suárez de Lezo has advised Iberdrola | bp pulse on a syndicated financing of up to €230 million aimed at supporting the rollout of electric vehicle charging infrastructure in Spain and Portugal. The financing was granted by ING, Kutxabank, Rabobank and ICO to Charging Together, the joint venture owned by Iberdrola and bp.
Deal details
The advisory work covered the structuring and negotiation of the financing agreement for Charging Together, which will use the funds to deploy ultra-fast charging points for electric vehicles across the Iberian Peninsula. The transaction comes amid growing investment in infrastructure linked to the electrification of transport in both countries, states CMS.
Legal team
The CMS team was led by partners Alejandro González (Banking & Finance) and Alfonso Codes (Public Law and Regulated Sectors), together with counsel Borja Vázquez (Banking & Finance). Associates Ariadna Sanmartín and Raquel Alcántara, both from the Banking & Finance practice, also took part in the operation.
