Cementos Molins signs novation and extension of sustainable syndicated financing

Cuatrecasas has advised Cementos Molins on the novation and extension of its sustainable syndicated financing for the Group and its affiliates in Spain, which was formalized in 2019. This novation, which continues to be classified as a sustainability-linked loan, extends the maturity by two years, until December 2026, and now has a limit up to €300 million, divided between a term loan of €75 million and a credit facility of €225 million. The rest of the terms and conditions remain unchanged.

The financing, which was the first sustainable syndicated financing of a cement company in Spain, continues to be linked to sustainability targets, more specifically to the reduction of CO2 emissions, one of the drivers of the company's sustainability roadmap.

The novation, signed by all the financing entities of the original loan, involves CaixaBank, acting as agent bank and finance and sustainability coordinator, Banco Sabadell, BBVA, Banco Santander, HSBC and Banca Intesa Sanpaolo.

The Cuatrecasas team advising on this transaction was made up of lawyers Manuel Follía, Íñigo Várez and Laura Torrecilla.