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Elecnor publishes its Promissory Note Programme in the MARF for up to €400 million

Elecnor publishes its Promissory Note Programme in the MARF for up to €400 million

First Elecnor Group Programme linked to meeting sustainability targets

Madrid, 8 june 2022
Elecnor Group has published a new multi-currency Promissory Note Programme in the Alternative Fixed Income Market (MARF) with a limit of €400 million –one of the largest in the market–, to fund Working Capital needs and new projects, both in Spain and abroad, in the areas of engineering, infrastructure development and construction, renewable energies and new technologies.

This is the Group’s first Programme linked to sustainability, including targets for reducing greenhouse gas emissions and accidents at work, which, if not met, imply a commitment to contribute to sustainable projects. 

This transaction is part of the Elecnor Group’s strategy to diversify and optimise the cost of its sources of funding. This new Programme will give the Group access to funding, both in Euro and US dollars, at terms of up to 24 months.

The reputation and strength of Elecnor Group’s business model is renowned on this market, allowing it to issue under beneficial terms. Over the last eight years, Elecnor Group has completed 196 issues for a total of €6.5 billion, making it one of the main issuers of promissory notes in the Spanish market. 

For this Promissory Note Programme, Elecnor will count on Banca March and Banco de Sabadell as placement entities. Banca March is the Registered Advisor. Cuatrecasas has taken over the legal advice, and G-Advisory is the consultancy firm that will issue the sustainability reports.