Elecnor Registers Sustainability-linked Commercial Paper Program with MARF

Cuatrecasas advised Elecnor, S.A., on registering a sustainability-linked commercial paper program with the Spanish Alternative Fixed-Income Market ("MARF”) for a maximum outstanding balance of €400 million.

According to the second-party opinion issued by G-Advisory on June 19, 2024, the notes issued under the program will be linked to the achievement of sustainability performance targets relating to two key performance indicators, established in line with the incorporation document, which was registered with the MARF on June 28.

Elecnor will use the raised funds for financing working capital requirements and new projects in Spain and abroad, always in line with the sustainable performance objectives defined by the company. This transaction will also enable Elecnor to diversify its financing sources, reduce its financing costs and reinforce its growth potential.