Sacyr closes green financing deal for 160 Million Euros to reduce recourse net debt23/06/2021
- With this operation, Sacyr accomplishes two milestones from its 2021-2025 Strategic Plan: to use innovative financial instruments tied to sustainability goals and to reduce recourse net debt.
- This financing entails the commitment to invest in projects that directly contribute to achieving goals related to the sustainability agenda and compliance with green KPIs.
Madrid, June 23, 2021.- Sacyr, through its subsidiary “Valoriza Medioambiente”, has closed a green funding deal of up to 160 million euros with Santander and Deutsche Bank.
These funds will contribute to reducing Sacyr’s recourse net debt. The company has committed to significantly cutting down this debt between 2021 and 2022, and this operation underpins achieving this goal.
A two-stage operation
This operation is structured in two stages, both for a 5-year term. The first stage, already paid in full, consists of a 120 million euro loan, based on “Valoriza Medioambiente” projects currently in development. The remaining 40 million euros will be paid after the entry into operation of awarded contracts.
This funding helps to accomplish two very significant milestones from Sacyr’s 2021-2025 Strategic Plan: situate sustainability as the cornerstone of the company’s actions, and reinforce the commitment to reduce recourse net debt.