Elecnor registers a multi-currency Promissory Note Programme with the MARF (Spanish Alternative Fixed-Income Market) of up to EUR 400 million

The Elecnor Group has today issued a new multi-currency Promissory Note Programme on the Spanish Alternative Fixed-Income Market (MARF), with a limit of EUR 400 million (the existing issuances are not to exceed this amount) to address the working capital requirements of its projects, both in Spain and internationally, in the areas of engineering, infrastructure development and construction, renewable energy and new technologies.

As in previous years, the Elecnor Group Programme is linked to sustainability, with goals for the reduction of greenhouse gas emissions and accidents in the workplace. If the conditions are not met, these goals involve a commitment to contributing to sustainable projects.

The Programme, valid until June 2025, will facilitate financing in euros and US dollars, with terms of up to 24 months, via the issuance of promissory notes with a nominal value of EUR 100,000 aimed at institutional investors.

The Programme is part of the company’s strategy of diversifying the financing sources for its working capital and optimising its costs. In this context, the soundness of Elecnor’s business model and reputation is highly regarded on the MARF, making Elecnor one of the companies with the lowest costs on the market. In the last twelve months, the company has executed 73 issuances, whilst maintaining an average outstanding balance of EUR 279 million.

For this Promissory Note Programme, Elecnor will have the backing of Banca March, Banco de Sabadell, Renta 4 and Norbolsa as placement agents, who will be responsible for distributing the issuances among qualified investors. Banca March is also the Registered Investment Advisor and Agent Bank. Cuatrecasas will be in charge of providing legal advice and G-Advisory is the consultancy that will issue the sustainability reports.

A strategy linked to sustainability 

The Elecnor Group’s Strategic Plan for Sustainability 2023-2025 reflects the Group’s commitment to people, society and the environment, which is always based on ethical and responsible management. The 6 strategic pillars focus on value creation and the generation of an environmental, social and governance-based dividend. The major highlights of the Plan include: 

• Certification of the Corporate Social Responsibility Management System in accordance with the IQNet SR10 standard for the second year running. This certification confirms that the Elecnor Group has an effective Corporate Social Responsibility Management System with all the necessary elements to manage sustainability properly, thereby endorsing its level of commitment to this issue.
• 73% of the corporate financing is sustainable, as it is linked to the achievement of ESG goals and indicators.
• Boosting renewable energy projects, adding new hybridisation and green hydrogen projects to traditional technologies.
• Consolidation of its position of Leadership in the initiative from the CDP (Carbon Disclosure Project), one of the highest levels in terms of sustainability, adaptation and mitigation in the fight against climate change.
• Ongoing deployment of the Integrated Management System in the international sphere.
• In Health and Safety, the frequency rate has been upheld, the best since records began, strengthening commitment to the goal of zero accidents in the workplace.
• The rate of Digital Transformation has reached 97%.