Cunext Group signs a Green and Sustainable Syndicated Loan of €12 million

Within the framework of its Strategic Investment Plan for Córdoba

The signing of this operation took place at the headquarters of Cesce, which through its activity on behalf of the State, acts as an insurance entity providing coverage for its new Strategic Investments for Internationalization policy aimed at projects that contribute to the fight against climate change.

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Cunext Group, a Spanish multinational of reference in the sector and specialized in the transformation of copper and

aluminum, has signed a Green and Sustainable Syndicated Loan of €12 million (extendable to a further €10 million in phase II) aligned with the LMA's 'Green Loan Principles' (Loan Market Association) and LSTA (Loan Syndications and Trading Association) within the framework of the initial phase of their Strategic Investment Plan in Córdoba.

 

The signing of this operation took place at the headquarters of Cesce, which through its activity on behalf of the State, acts as an insurance entity providing coverage for its new Strategic Investments for Internationalization policy aimed at projects that contribute to the fight against climate change. It was attended, along with representatives of the aforementioned institutions, Xiana Mendez, Secretary of State for Commerce and Alicia Varela, General Director of International Trade and Investments.

 

El Cunext Group Plan, which foresees investments of more than 100 million euros, focuses on the opportunity presented by the energy transition towards the modernization of the current electrical network, electrification and the electric car, decarbonization and transition towards renewable energy, digitalization in smart networks and decentralization at different points of generation and consumption. All this placing copper at the center of the value chain, estimating an exponential growth in demand due to the need to service the inevitable change in the energy model.

 

"The project's strategic pillars are a sustainable and technologically innovative industry with a shift towards Industry 5.0, which decisively contributes to the EADS (Andalusian Sustainable Development Strategy 2030), and is aligned with the European strategic priorities of sustainability, based on the transition to the circular economy, the generation of green energy from renewable sources, and technological innovation, which contributes to the creation of employment, to the structuring and social cohesion and to the economic development of the province, both in the facilities that the Cunext Group "It has properties in Córdoba, as well as those it currently has in the town of Espiel," the company highlighted.

 

In the words of Fernando Salazar, executive president of Cesce, “we are very satisfied to sign this first operation under our Strategic Investments for Internationalization policy, which is part of our efforts to adapt our broad product portfolio to the new market realities, especially those linked to the transformation towards a sustainable economy". In this sense, Salazar has stated that Cesce “has been engaged in its environmental commitment for several years” and hopes that the signing of this operation “will show the way to other companies that, like us, want to progress in their ESG commitment with a profitability objective.” and long-term sustainability.”

 

According to Dámaso Quintana, executive president of Grupo Cunext, “Grupo Cunext's commitment to the goal of zero emissions is total and shared by the entire organization. In order to achieve this goal, million-dollar investments are required and that is why it has financing lines designed to accompany the company on this path. investor is appreciated and we value it very positively.”

 

- Corporate & Investment Banking (C&IB) of EBN Banco has directed and structured the operation, also acting as Agent Bank. The financing, which has been subscribed by the Official Credit Institute (ICO), the Caja Rural de Navarra and the EBN Bank itself, is covered by Cesce, through its activity on State Account, through the new Policy of Strategic Investments, for projects framed in strategic sectors in a context of internationalization of the business group, being the first Policy to be formalized for this type of coverage. GA_P and Serfiex have contributed their expertise to the operation as legal advisors and SPO (Second Party Opinion), respectively.