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SubscribeCuatrecasas advised a syndicate of financial institutions and the initial buyers on a key transaction for Molins, structured in two complementary phases, to partially finance the acquisitions of the Portuguese company Secil.
In the first phase, Molins, through its subsidiary Molins Finance, S.A.U., entered into a sustainability-linked syndicated financing arrangement for €680 million last March, led by BBVA and CaixaBank together with other international financial institutions. This transaction was completed with bridge-to-bond financing of €500 million, led by Banco Santander and J.P. Morgan, to be amortized by the bond.
In the second phase, Molins made its inaugural bond issue for €500 million, formalized in May, with maturity set for 2033 and a fixed annual coupon rate of 5.50%. The funds obtained will enable Molins to strengthen its capital structure and liquidity profile, as well as to fully reimburse the bridge-to-bond financing.
In the framework of the issue, J.P. Morgan and Banco Santander acted as global coordinators and joint bookrunners, while HSBC and Intesa Sanpaolo acted as joint bookrunners, BBVA and CaixaBank as bookrunners, and Banco Sabadell as manager.
This transaction reinforces Molins’s financial strategy and its position following the acquisition of Secil, combining banking finance and access to capital markets.
The Cuatrecasas ream handling the advisory service was led by Manuel Follia and Ana Mª Gamazo, along with Íñigo Várez, Antonio Ridao, Guillermo Castellanos and Carles Calzado, from the firm’s finance and debt capital markets groups.
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