Cuatrecasas has acted as advisor to Elecnor in setting up a 50 million euro securitization fund, the "Elecnor 2020 Energy Efficiency Securitization Fund" [Elecnor Eficiencia Energética 2020, Fondo de Titulización], with a maturity of seven years that will be listed on the Alternative Fixed-Income Market. The bond issue adheres to the "Green Bond Principles", and the bonds have earned G-Advisory's green bond rating.


The Fund has been granted the credit claims attached to the energy services management contracts and street lighting maintenance contracts Elecnor has with 43 Spanish cities and public entities. This is the first securitization transaction based on the sale of future credit claims from Government contracts in Spain.


The Cuatrecasas team advising Elecnor in this transaction consisted of Miguel CruzRafael Mínguez, and Tania Esteban, attorneys with the Firm's Financial Practice Area, and Jorge Botella and Agustín Alfaro, attorneys with the Firm's Public Law Practice Area.