Elecnor agrees better conditions for its EUR 600 million syndicated facility
The company has agreed new conditions that extend the term by one year and significantly improve the conditions of the EUR 600 million syndicated facility arranged in July 2014
Madrid 02 July 2015.- Taking advantage of current low interest rates, Elecnor has signed a new contract to modify several of the conditions of the EUR 600 million syndicated financing taken out in July 2014 with 19 Spanish and international financial institutions.
Under this new agreement, maturity is extended by one year to July 2020 and the margin conditions originally agreed last year are significantly improved with immediate effect. The loan limit remains EUR 600 million, repaid in two tranches: a EUR 300 million loan tranche and a revolving credit facility tranche of the same amount.
The transaction is led by Banco Santander as Sole Bookrunner, Coordinator and Agent. Alongside Banco Santander, Bankia, Caixabank, Banco Sabadell, Kutxabank, Credit Agricole, BBVA and Barclays are acting as MLAs.