GA_P advises Velto Renewables on €819M refinancing
Gómez-Acebo & Pombo has advised Velto Renewables, a renewable energy group, on the refinancing of a portfolio comprising 76 operational solar photovoltaic plants in Spain with a combined installed capacity of 218 MWp, through an €819 million syndicated financing.
The transaction was structured through a syndicated financing agreement incorporating several facilities, including a term loan facility and a debt service reserve facility. The refinancing also involved the simultaneous cancellation of various existing financing arrangements, including bond issuances, which were replaced by a new unified financing structure backed by a syndicate of leading international financial institutions.
The deal represents a significant refinancing in Spain’s renewable energy sector and provides Velto Renewables with a streamlined capital structure to support the long-term operation of its solar assets.
The team
The Gómez-Acebo & Pombo team was led by Verónica Romaní Sancho, partner in the Banking & Finance practice and head of the Energy sector, with support from Juan Pérez Gómez, José Francisco Canalejas Merín, Isabel Silva Sarasola, Juan Reynolds Permuy, Carla Logroño Juanco and Roberto Bustamante López-Dóriga.
