Cuatrecasas advises on the signing of a syndicated loan of up to €350m for Elecnor

Cuatrecasas has advised a banking syndicate led by Banco Santander, in its role as agent and coordinator, on the syndicated financing granted by the syndicate to Elecnor, for a maximum amount of €350m and with a five-year maturity.

The transaction, structured as a €50 million bullet loan tranche and a €300 million multi-currency credit tranche, reinforces Banco Santander’s leadership in sustainable financing transactions in the Spanish market, consolidating its commitment to sustainable transition and its position as a benchmark within the sector.

Banco Santander has played a key role in structuring and executing financing aligned with Elecnor’s sustainability and corporate social responsibility objectives, replacing the contract signed in 2014 (renewed on several occasions) and complying with the Sustainability Linked Loan Principles.

Participants in the transaction

In addition to Banco Santander, which acted as agent, coordinator, bookrunner and MLA, other leading institutions participated in the financing, such as Caixabank (bookrunner and MLA), Abanca, BBVA, Kutxabank, Banco Sabadell, Barclays and Unicaja as mandated lead arrangers (MLAs), as well as Bankinter, Crédit Agricole, Banco Cooperativo, Société Générale and Banca March as lead arrangers (LAs).

Cuatrecasas lawyers Miguel Cruz Ropero, Irene Sanz and Paloma Azcona, from the Finance department, advised on a transaction.