• CaixaBank and BBVA have acted as the coordinating entities, and administrative and sustainability agents. Alantra has acted as Ferrer’s sole financial adviser.
• The conditions of the refinancing agreement are linked to social and environmental sustainability criteria. Sustainability is a central and cross-cutting axis of the company.
In its commitment to promoting sustainability to improve people's health and generate a positive impact on the planet, Ferrer has signed a sustainable financing agreement amounting to 220 million euros. It is the first sustainable loan agreed by a firm in the pharmaceutical industry in Spain, a pioneering operation for the sector, with a financing margin linked to the company's performance in terms of sustainability. Ferrer has committed to reducing CO2 emissions, improving waste management and boosting employee training. The positive results of these indicators will reduce the interest rate of the loan.
According to David Ferrer, Chief Financial & Corporate Services Officer of the laboratory, “At Ferrer we deem sustainability to be a central and cross-cutting axis of all our activity: any action must meet improvement goals with regard to people, the planet and the local community. This financing agreement demonstrates our commitment to generate a positive impact on our environment”.
The financing, signed with CaixaBank and BBVA, is split into three tranches: Term Loan (long-term loan), Revolving Credit Facility, and Capex Facility (credit facility for acquisitions), with a 6-year term.
CaixaBank and BBVA have acted as coordinating entities, and administrative and sustainability agents, with the participation of Sabadell, Cajamar, Santander, Deutsche Bank, Liberbank, Targobank and Banca March. Furthermore, Alantra has served as Ferrer’s sole financial adviser and Anthesis Lavola as its independent sustainability consultant.
CaixaBank, committed to sustainable financing
CaixaBank is showing its commitment to sustainable financing. Through its initiatives, the Bank is supporting environmentally friendly initiatives and projects that contribute to preventing, mitigating and fighting climate change and help in the transition to a low-carbon economy. This has led CaixaBank to become the first Spanish bank to fully eliminate its carbon footprint.
The Bank, headed by Chairman Jordi Gual and with Gonzalo Gortázar as CEO, stands out for its implementation of responsible investment principles and its commitment to sustainable investment as a strategy to manage overall risks and generate long-term sustainable yields.
CaixaBank has positioned itself as one of the leading Banks in sustainable financing. In 2019 it became the first bank on the IBEX35 to issue a social bond to support the United Nations Sustainable Development Goals (SDG). In addition, in July 2020 it issued a new social bond for €1Bn to curb the effects of COVID-19 by funding SMEs and micro-enterprises located in Spain's most disadvantaged areas.