WFW with Banco Santander on €1bn green loan to Iberdrola
Watson Farley & Williams has advised Banco Santander on a €1bn green loan with a European Export Credit Agency guarantee granted to Iberdrola for the financing of the acquisition of turbines for both onshore and offshore windfarm projects in Spain, Poland, Greece, Germany and the United Kingdom. The financing, which has a maximum maturity term of 15 years, is the largest ECA-backed green loan Iberdrola has ever signed.
The cross-border WFW finance team that advised Banco Santander was led by Madrid Banking and finance head Rodrigo Berasategui (pictured), working closely with London partner Katherine Best. They were assisted by Madrid senior associate Juan Vicente Barquilla and Associates Antón Ramil and George Garthwaite in Madrid and London respectively.