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.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.