Magnon Green Energy, a company owned by Ence Energía y Celulosa and Ancala Partners, has closed the refinancing of its corporate debt in the amount of 190 million euros. The operation, which has been carried out with a pool of financial institutions and national and international institutional investors, includes a syndicated loan of 170 million euros and a revolving line of 20 million.
It is a green financing with which Ence’s subsidiary extends its maturities until 2032 and demonstrates the confidence of the financial market in the regulated biomass power generation business.
Kenta Capital has been the financial advisor of the transaction while BBVA has acted as agent. BBVA and Banco Santander were also the sustainability agents.
In the words of Guillermo Negro, CEO of Magnon Green Energy: ‘This transaction, with which we optimise the cost of capital and lengthen maturities, gives us great flexibility in addressing the lines of growth included in our strategic framework, such as the execution of projects that contribute to the green transition of the industrial sector, favouring sustainable economic development’.
Translated with DeepL.com (free version)
