Spain: Elecnor registers sustainability-linked commercial paper program for up to €400 million on MARF

Cuatrecasas has advised the Elecnor Group on registering a multi-currency commercial paper program on the Spanish Alternative Fixed-Income Market (MARF)—with a maximum outstanding balance of €400 million—to finance its projects in the areas of engineering, infrastructure, new technologies and renewable energies in Spain and abroad.

The closing of the operation sees the launch in this market of the company’s second program linked to sustainability, which incorporates objectives related to the reduction of greenhouse gas emissions and the prevention of occupational risks which, if not met, imply a commitment of contributions to sustainable projects by Elecnor.

This new project will enable Elecnor to take an important step forward in its strategy of diversifying its sources of short- to medium-term working capital financing and optimizing financial costs.