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.
Elecnor is one of the leading corporations in project development, construction and operation through two major mutually-enriching business areas: Infrastructure and Concessions.
Infrastructure, renewable energy and new technologies are the main areas of activity in which the Infrastructure and Concessions businesses are involved.