Madrid, 6 june 2023

Elecnor registers a multi-currency Promissory Note Programme with the MARF (Spanish Alternative Fixed-Income Market) of up to EUR 400 million

The objective of the Programme is to achieve short- and medium-term financing at advantageous conditions compared to alternative financing sources

The Elecnor Group has issued today a new multi-currency Promissory Note Programme on the Spanish Alternative Fixed-Income Market (MARF), with a limit of EUR 400 million (the existing issuances may not exceed this amount), one of the largest in the market, 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. 

This is the second Elecnor Group Programme linked to sustainability, including objectives for the reduction of greenhouse gas emissions and accidents in the workplace. If the conditions are not met, the programme involves a commitment to contributions to sustainable projects. 

The Programme, valid until June 2024, 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, enabling Elecnor to be one of the companies on the market with the highest amount issued and the lowest costs. In the last twelve months, the company has executed 70 issuances, whilst maintaining an average outstanding balance of EUR 226 million. 

For this Promissory Note Programme, Elecnor will have the support of Banca March, Banco de Sabadell, Renta 4 and Norbolsa as placement agents, who will be responsible for distributing the issuances among qualified investors. Banca March is also the Registered Investment Advisor and Agent Bank. Cuatrecasas has assumed the task of providing legal advice and G-Advisory is the consultancy that will issue the reports on sustainability.

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