Sacyr SA: files a registration file for a securitization fund for green assets on the alternative bond market (MARF) for € 104 million

BME’s Alternative Fixed Income Market (MARF) admitted to trading a securitization issue for the Sacyr Green Energy Management securitization fund, valued at 104 million euros.

With the proceeds of the placement, the securitization fund acquires the current and non-current receivables of Sacyr Industrial Operación y Mantenimiento (SIOM), as a result of the operating and management contracts that SIOM executes for five cogeneration plants, two biomass plants. and two industrial grade oil-pomace extraction plants in Andalusia. The fund is managed by Intermoney Titulización.

Banco Sabadell is the structuring agent of the transaction, as well as the approved adviser, agent and payment agent of the transaction.

The profits from this transaction will be used to reduce its net recourse debt, in line with the company’s commitment to reduce its debt to € 100 million by 2025.

Ranking of green bonds

The securitization bonds have been classified as Green Bonds, according to the characteristics of the projects whose rights have been transferred and comply with the Green Bond Principles of the ICMA, as confirmed by the second opinion of G-Advisory. The issue was rated A- (sf) by Axesor Risk Management.

Banco Sabadell is the bookrunner and paying agent of the issue, as well as the registered advisor of the securitization fund with MARF. J&A Garrigues acted as legal advisor to the participants in the constitution of the securitization fund and the registration of the bond issue at MARF.