Madrid, 19 January 2012.- Elecnor has obtained 500 million euros of financing with a group of 14 national and international financial institutions.
The deal was acquired at the highest level of the originally planned bracket (between 400 and 500 million euros). It is remarkable that, despite the difficult situation being experienced on financial markets, the deal was oversubscribed and comfortably exceeded 500 million euros. Support from the financial community is the result of good business prospects and the track record of the company, which has historically maintained excellent debt ratios.
The financing, with a maturity of five years, is split into two tranches: a loan tranche of three hundred million euros; and a revolving line of credit tranche of two hundred million euros. The deal was headed by three institutions: Banco Santander, acting as the agent bank; and Barclays and "la Caixa", in their capacity as bookrunners and MLAs, with Santander and Barclays coordinating the operation. Other MLAs were Banco Sabadell and Crédit Agricole, in collaboration with BBVA, Banco Popular, Banesto, Bankinter, Kutxa Bank, Banca Cívica, Bankia, Caja España-Duero and Banco Pastor.
The acquired financing is part of the investment plan put in place by the Spanish multinational in its current Strategic Plan and in its anticipated growth strategy for the following years.
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.