Spanish bakery Europastry signs €800m syndicated financing agreement

Posted Monday, November 22nd 2021
Spanish bakery Europastry signs €800m syndicated financing agreement

Barcelona-based frozen bakery and pastry company Europastry has signed a €800m syndicated financing agreement with BBVA, ING, and other financial groups. The deal includes sustainability criteria for reducing Europastry’s CO2 emissions and water consumption.

The agreement consists of a €525m refinancing of the company’s outstanding loans and an additional €275m to finance the group’s growth plans. The loan has a term of four years. In addition to BBVA and ING, Spanish banks CaixaBank, Sabadell, Santander, Bankinter, and Banca March participated, alongside Dutch financial institution Rabobank.

A team from Spanish law firm Cautrecasas advised BBVA and ING on the deal, led by partner Manuel Follía.