Europastry closes €800 million sustainable financing agreement with banks

Cuatrecasas has advised BBVA, ING and other financial institutions on closing a syndicated financing agreement with Europastry, the Catalan frozen bakery dough company, for €800 million. The transaction incorporates sustainability criteria linked to targets for reducing CO2 emissions and saving water consumption.

The loan breaks down into a €525 million refinancing of the current liability with credit institutions and €275 million to fund growth plans, with a four-year term to maturity at the end of 2025. In addition to BBVA and ING, the transaction involved CaixaBank, Sabadell, Santander, Bankinter and Banca March, as well as Dutch entities ING and Rabobank.

The Cuatrecasas team handling the transaction was made up of lawyers Manuel Follía, Magda Munt and Mireia Martínez.