Global law firm Dentons has advised UniCredit Bank GmbH on a €500 million financing transaction with Equitix Summit III BidCo for a multi-technology renewable energy portfolio in Spain. The portfolio is structured through a Luxembourg HoldCo platform and comprises solar, wind, and hybridization assets operated via several SPV companies.
The transaction included the provision of senior financing and the implementation of a sophisticated top-down security package designed to address structural subordination issues that commonly arise in HoldCo-level financings.
Given the complexity of the corporate structure and the cross-border elements of the financing, the transaction required multidisciplinary advice in the banking and energy sectors. The Dentons team was led from Madrid by partners Luis Belart, Banking and Finance, and Fermín Garbayo, Energy, with support from associates Manuel Lamela and Cristina Ramírez, as well as partner Matthew Sapte in London and Managing Counsel Olivier Lesage in Luxembourg.
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