Spanish biomass power producer Magnon Green Energy has successfully refinanced its corporate debt totaling EUR 190 million (USD 207.9 million). The company announced that the existing debt was replaced with a syndicated loan of EUR 170 million and a revolving credit line of EUR 20 million.
The refinancing involved a consortium of financial institutions along with national and international institutional investors, enabling Magnon to extend its debt maturities until 2032. Kenta Capital acted as the financial advisor for the transaction, while BBVA served as the agent. Both BBVA and Banco Santander also took on roles as sustainability agents.
Guillermo Negro, CEO of Magnon Green Energy, highlighted that this transaction optimizes the company's cost of capital and extends maturities, providing increased flexibility to pursue growth initiatives outlined in its strategic framework. This includes executing projects that support the green transition in the industrial sector, thereby promoting sustainable economic development.
Magnon Green Energy is the renewables division of Spanish pulp producer and energy group Ence – Energia y Celulosa SA . UK infrastructure investment manager Ancala Partners LLP holds a minority stake in the business. Magnon operates eight biomass power plants with a combined capacity of 266 MW in Spain and is also involved in solar photovoltaic projects as part of its asset rotation strategy.
