Linklaters and Clifford Chance advise on Acciona’s acquisition of a €230m “samurai” loan from 17 Japanese banks

Linklaters and Clifford Chance have advised on Acciona’s obtaining an innovative “samurai” loan in the Japanese market -the first for a Spanish company- for 230 million euros and with a sustainable financing structure, with the support of 17 banks, led by MUFG and Mizuho.

The loan has been issued under Acciona’s Impact Finance Framework. In addition to its green nature by earmarking funds for activities that contribute to climate change mitigation, the financing includes a local impact initiative to support the development of zero or low-emission products and industry through sustainable procurement commitments. In doing so, Acciona will also contribute to reducing its Greenhouse Gas (GHG) Scope 3 emissions.

The transaction has received the support of 17 banks, of which 11 are new financial partners for the company, mainly Japanese regional banks. MUFG and Mizuho have been the joint coordinators. Mizuho acted as Green Loan Coordinator and Documentation Agent, while MUFG acted as Facility Agent. The transaction received commitments above the initial target amount in both 3 and 5 year tranches.

Linklaters team has advised Acciona with a team led by Ben Crosse and Begoña Martínez (pictured), with the support of Jaime Pelegrí Souviron, Abel Ayuso and Elena Esteban Domínguez.

Clifford Chance has advised the bookrunning mandated lead arrangers with a cross-border team of lawyers from around the Clifford Chance network in both Europe and Asia. The cross-border Clifford Chance team was led by Global Financial Markets counsel Jackie Jones (Amsterdam) with support from senior associate Lewis Whyte (London). Advice in Spain was provided by partner Eugenio Fernandez-Rico and associate Maria Gonzalez (Madrid) and in Japan, by partner Yusuke Abe (Tokyo).