Cuatrecasas advises bank syndicate led by BBVA and Caixabank on sustainable financing of €220 million

2020-08-06T00:00:00
Spain

CuatrecasCuatrecasas advises bank syndicate led by BBVA and Caixabank on sustainable financing of €220 millionas advises bank syndicate led by BBVA and Caixabank on sustainable financing of €220 million

Cuatrecasas advises bank syndicate led by BBVA and Caixabank on sustainable financing of €220 million
August 6, 2020

Pharmaceutical group Ferrer has signed a new sustainability-linked syndicated loan for €220 million, a transaction that links the financing’s margin to the company’s results in terms of sustainability.

The loan was signed with BBVA and CaixaBank (coordinating banks), and with Banco Sabadell, CajamarBanco Santander, Deutsche Bank, Liberbank, Targobank and Banca March. It is the first sustainable loan signed by a company in Spain’s pharmaceutical sector.

The financing is structured in three tranches: term loan, revolving credit facility and a capex facility with a six-year maturity.

Present in 100 companies, the Ferrer group has 1,850 employees; last year, it recorded turnover of €670 million.

Cuatrecasas advised the financial institutions on granting and signing the financing through a team made up of Héctor Bros and Manuel Follía, the partners leading the transaction, together with the associates Elvira Coloma, Yuanlong Lang and Arnau Pastor (Banking and Finance).

August 6, 2020