Clifford Chance

Clifford Chance advises banks on €160 million green financing for Sacyr subsidiary Valoriza Servicios Medioambientales

Clifford Chance recently advised Banco Santander and Deutsche Bank on €160 million green financing for Valoriza Servicios Medioambientales, S.A., a subsidiary of Sacyr.

The transaction is divided into two tranches and matures in five years. The first tranche, which has already been paid out, consists of a loan of €120 million. The remaining €40 million tranche will be paid out after the commencement of work on contracts won. The amount of the transaction is based on the fulfilment of a series of environmental indicators, which will be audited by an independent third party.

Clifford Chance's team was made up of José Guardo, Carl Fitzgerald, Eugenio Fernández-Rico, Antonio Sánchez-Cirujano, María González, Marc Casas and Alba Sande.

Clifford Chance has a specialised ESG team, and the advice provided in this translation reflects our team's commitment in innovative financing structures in this area.