Elecnor registers a multi-currency Promissory Note Programme with the MARF (Spanish Alternative Fixed-Income Market) of up to EUR 400 million
Elecnor is continuing its strategy of diversification between bank financing and the capital market
The Elecnor Group has today issued a new multi-currency Promissory Note Programme on the Spanish Alternative Fixed-Income Market (MARF), with a limit of EUR 400 million to address the working capital needs of its projects, both in Spain and internationally, in the areas of engineering, development and construction of infrastructures, renewable energy and new technologies.
As in previous years, the Elecnor Group Programme is linked to sustainability, including goals for the reduction of greenhouse gas emissions and accidents in the workplace, which, if they are not met, involve a commitment to contributing to sustainable projects.
The Programme, valid until June 2026, will facilitate financing in euros and US dollars, with terms of up to 24 months, via the issuance of promissory notes with a nominal value of EUR 100,000 aimed at institutional investors.
The Programme is part of the company’s strategy of diversifying the financing sources for its working capital and optimising its costs. In this context, the soundness of Elecnor’s business model and reputation is highly regarded on the MARF, making Elecnor one of the companies with the lowest costs on the market. In the last twelve months, the company has executed 57 issuances, whilst maintaining an average outstanding balance of EUR 112 million.
For this Promissory Note Programme, Elecnor will have the backing of Banca March, Banco de Sabadell, Renta 4 and Kutxabank Investment as placement agents, who will be responsible for distribution among qualified investors. Banca March is also the Registered Investment Advisor and Agent Bank.
Cuatrecasas is in charge of providing legal advice and G-Advisory is the consultancy that will issue the sustainability reports.