Banco Santander Leads Bank Syndicate in Sustainable Finance

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

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

Banco Santander has played a key role in structuring and executing a financing agreement aligned with Elecnor's sustainability and corporate social responsibility objectives. This agreement replaces the contract signed in 2014, and renewed several times, and also complies with the Sustainability Linked Loan Principles.

Cuatrecasas Finance lawyers provided the legal advice on this transaction, which helps to strengthen the relationship between Banco Santander and the rest of the participating entities with Elecnor, as well as foster the development of innovative and sustainable financial solutions in the market.