Sacyr S A : files to register a green asset securitization fund in the alternative fixed-income market (MARF) for €104m
October 20, 2021 at 09:01 am EDT
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The issue has obtained the Green Bond classification according to the characteristics of the project's whose rights have been transferred.
Banco Sabadell was the structurer and placement agent for the operation, and the fund is managed by Intermoney Titulización.
Axesor Rating has classified the issuance with an A- rating.
The profits will be used to reduce Sacyr's net recourse debt. The company has set the goal to reduce it to €100 million in 2025.
20/10/2021
20/10/2021
The Alternative Fixed-Income Market (MARF) of BME has admitted for trading a securitization issue for the securitization fund Sacyr Green Energy Management, valued at €104 million.
With the proceeds from the placement, the securitization fund acquires Sacyr Industrial Operación y Mantenimiento (SIOM)'s current or non-current accounts receivable, as a consequence of the operation and management contracts that SIOM is executing for five co-generation plants, two biomass plants and two industry-grade oil pomace extraction plants in Andalucía. The fund is managed by Intermoney Titulización.
Banco Sabadell is the structurer for the operation, as well as the registered advisor, agent and payment agent of the transaction.
The profits obtained from this operation will be used to reduce its net recourse debt, in line with the company's commitment to cut its debt down to €100 million in 2025.
Green bond classification
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 ICMA's Green Bond Principles, as confirmed by G-Advisory's second opinion. The issue has received a A- (sf) rating by Axesor Risk Management.
Banco Sabadell is the bookrunner and paying agent for the issuance, as well as the registered advisor for the securitization fund before the MARF. J&A Garrigues acted as the legal advisor of the participants in the constituting of the securitization fund and in the bond issue registration in the MARF.
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Sacyr SA published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 13:00:04 UTC.
Sacyr, S.A. is a building and public works group. Net sales (including intragroup) break down by activity as follows:
- industrial site,s infrastructure and building construction (49.4%);
- management of infrastructure under concession (32.3%): airports, roads, hotels, offices, shopping malls, etc.;
- services (17.1%): maintenance and cleaning of buildings, construction and installation of water pipeline systems and gas emission reduction systems, waste and wastewater collection and treatment, etc.;
- other (1.2%).
66.1% of sales are abroad.
SACYR, S.A. 
