Grupo Antolin extends the maturity of its syndicated loan to 2026 and incorporates sustainable criteria



Grupo Antolin extends the maturity of its syndicated loan to 2026 and incorporates sustainable criteria

2021-05-06
  • The Company has agreed with its lenders to extend the maturity of its syndicated loan for three years until 2026, which consists of a €400 million senior loan plus a €200 million revolving credit facility.
  • The revolving credit facility includes a sustainable component following the incorporation of key performance indicators linked to sustainable goals.
  • Lenders reaffirm their full support to the Company, which has no significant debt maturities until 2024.
  • BBVA has been the sustainability agent in the transaction.

Grupo Antolin has reached a refinancing agreement with its lenders to modify the current syndicated loan facility and extend its maturity for three years until 31 March 2026. The agreement consists of a €400 million senior loan, plus a €200 million revolving credit facility.

This agreement gives more flexibility to the financial structure of the company in the long run. The company has no significant debt maturities until 2024.

The new agreement includes a sustainability component after having incorporated key performance indicators (KPIs) linked to environmental, social and corporate governance (ESG) criteria. In this regard, Antolin reaffirms its strong commitment to the European Green Pact by developing a global strategy that takes into account these objectives. Grupo Antolin wants to have an active role in the transition of the automotive industry to a low-carbon economy, in the fight against climate change and in supporting the social and economic development of the countries in which it operates.

BBVA has been the sustainability agent in the transaction thanks to its proven track record, deep experience and global capabilities within the sustainable and green finance sector.

"This agreement strengthens the commitment and full support of all lenders to Antolin as a result of our strong financial position and proven ability to implement an efficient financial management strategy. It also takes into account our global footprint, a well-diversified business model, longstanding relationships with clients and our flexibility to rationalize costs and adapt our structure to the new industry competitive landscape, which has been heavily affected by the COVID-19 pandemic", says Jesus Pascual, CEO of Grupo Antolin. "Sustainability is a fundamental pillar of our business model, so we seek to align our financial operations with these criteria”, Pascual adds.

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