Cuatrecasas advises Banco Santander on extending Ercros financing


The industrial chemical group renews €102 million syndicated loan for next three years

The industrial chemical group Ercros has signed a new line of syndicated financing for €102.14 million. The company reached an agreement with the bank for a three-year extension —until 2020— of financing initiated in 2011 and renewed in 2014. 

The banking syndicate is formed by Banco Popular, Banco Sabadell, Banco Santander, BBVA, CaixaBank and Crédit Agricole. The financial transaction was structured with a factoring contract by which the banks advance Ercros the company’s accounts receivable from clients.

Cuatrecasas advised Banco Santander on extending the Ercros financing. Partner Manuel Follía of the firm’s Finance Practice led the financial transaction, together with associates Jan Barthe and Íñigo Várez, from the Corporate Finance Group.