Cuatrecasas advises Banco Santander on €45m Ercros corporate financing

Cuatrecasas has advised Banco Santander and other financial institutions on the renewal and extension of Ercros syndicated corporate financing

The Cuatrecasas’ B&F team has advised on the negotiations and conclusion of the novation and extension of syndicated corporate financing to Spanish chemical group Ercros, S.A., for a value of €45 million.

The transaction included the refinancing of two syndicated factoring agreements, with recourse and without recourse (insured by CESCE), signed with Ercros, S.A., for a value of €102 million. The financing value will be linked to the meeting of environmental, social and corporate governance objectives.

Cuatrecasas´ Banking and Financial team advising on this deal was formed by partner Manuel Follía (pictured left) along with associates Iñigo Várez (pictured top right) and Javier Vivas (pictured bottom right), all from the Barcelona office.