Elecnor launches a Promissory Note Programme in the MARF of up to EUR 300 million to finance new projects
Elecnor launches a Promissory Note Programme in the MARF of up to EUR 300 million to finance new projects
The aim is to continue driving forwards with its plans in both the domestic and international markets
Madrid, 15 june 2020

The Elecnor Group has published a new Multi-Currency Promissory Note Programme in the MARF (Mercado Alternativo de Renta Fija — Alternative Fixed-Income Market) of up to EUR 300 million to finance its projects in the fields of engineering, infrastructure development and construction, renewable energy and new technologies, both in Spain and in international markets.

 

With this programme, the company will be able to obtain funding, in both euro and US dollars, with terms of up to 24 months, optimising the costs of cash flow financing.

 

The renewal of this programme provides Elecnor with a funding source separate from traditional banking, thereby diversifying its funding options. In addition, the company values the flexibility provided by promissory notes, which are issued at lower costs than those associated with alternative short- and medium-term funding sources.

 

Banca March and Banco de Sabadell are the placement entities that will advise Elecnor and structure and distribute the issuances among qualified investors. Banca March has also acted as a Registered Advisor for the MARF and as an agent bank. The Cuatrecasas firm provides legal advice.