Cuatrecasas has advised the Elecnor Group on the registration of a multi-currency promissory note program in the Alternative Fixed Income Market (MARF) with a maximum outstanding balance of 400 million euros, in order to finance its projects in the areas of engineering, infrastructure, new technologies and renewable energies, both in Spain and internationally.
The firm team that participated in the transaction was led by the lawyers Miguel Cruz Ropero, Gonzalo Terceño and Matías Serrano.
The closing of the operation means the launching in this market of its second program linked to sustainability, which incorporates objectives related to the reduction of greenhouse gas emissions and the prevention of occupational risks which, if not met, imply a commitment of contributions to sustainable projects on the part of Elecnor. This program will remain in force until June 2024 and will allow Elecnor to finance itself in euros or US dollars at terms of up to two years, through the issuance of promissory notes with a nominal value of 100,000 euros for institutional investors.
This new project will enable Elecnor to take an important step forward in its strategy of diversifying its sources of short- to medium-term working capital financing and optimizing financial costs.