This programme will allow Holaluz to access qualified investors flexibly over the next twelve months and diversify its financing sources by issuing CP issues.
Holaluz has structured the CPs to be issued under the Green Note Programme to qualify as a “green instrument” under the Holaluz Green Finance Framework, under which the company can issue bonds and notes in accordance with the Green Bond Principles 2021 and enter into financing contracts in accordance with the Green Loan Principles 2021 of the International Capital Markets Association (“ICMA”). To this end, Holaluz has obtained a favourable opinion from Sustainalytics confirming that the Holaluz Green Finance Framework is aligned with the four fundamental principles that make up both principles.
Banco Santander is the Lead Arranger of the Programme, and Banco Santander itself, Banco Sabadell, Bestinver and Norbolsa are participating as Collaborating Entities. Deloitte Financial Advisory will be Holaluz’s Registered Advisor in the MARF. Uría Menéndez Abogados has provided legal advice to the issuer on the incorporation of the Programme.
Holaluz has a BB credit rating, with a stable trend, by EthiFinance Ratings.
Holaluz is a green energy technology company. Since its origins, it has been operating in the energy sector with a clear commitment to renewable energies, self-consumption and distributed generation through the intensive use of technology. Distributed generation consists of the generation of electrical energy by small installations based on renewable sources and located in places close to the loads. Holaluz wants to accompany its customers on the path towards a new sustainable model, moving from a centralised model to a fully renewable model that combines centralised generation with on-site generation, and in which consumers become “producer-consumers”.
Holaluz started its activity in the sector in 2010, and since November 2019, its shares have been listed on BME Growth. In the year ended 31 December 2021, Holaluz achieved consolidated revenues of €571.5 million and EBITDA of €1.1 million.
Uría Menéndez’s Madrid office Capital Markets team advising Holaluz on this matter was formed by partner Javier Redonet Sánchez del Campo, senior associate José Ignacio Baus Garces and associate Lucia Berrícano Bayón.
