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Sunday, January 29, 2023
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Linklaters advises banks on Merlin Properties’ €600m green financing

Linklaters has counselled financial entities -BBVA, BNP Paribas, Caixabank, Crédit Agricole, and Société Générale- on a green corporate financing, consisting of a five-year syndicated loan for €600 million

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Merlin Properties has signed a green corporate financing with leading domestic and international banks, allowing to add €660 million to its available liquidity, reaching €2,000 million, which ensures the repayment of all debt maturities until 2027.

As reported to the Spanish Securities and Exchange Commission (CNMV), the financing has consisted of a five-year syndicated loan for €600 million signed with five banks -BBVA, BNP Paribas, Caixabank, Crédit Agricole and Société Générale- and a five-year bilateral loan with Banco Sabadell for €60 million.

The financing was closed at an average cost of SM + 126 bps and lengthened the average life of its debt from 5.2 to 6.1 years,  leaving its liabilities in order to meet the requirements of the new cycle.

Linklaters’ team was formed by partner Francisco Sainz-Trápaga and lawyer Francisco Ruiz.

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