PRESS RELEASE
16 July 2025

Herbert Smith Freehills Kramer Advised The Initial Purchasers And Lenders On A €2.7 Billion Financing

KL
Herbert Smith Freehills Kramer LLP

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Herbert Smith Freehills Kramer is a world-leading global law firm, where our ambition is to help you achieve your goals. Exceptional client service and the pursuit of excellence are at our core. We invest in and care about our client relationships, which is why so many are longstanding. We enjoy breaking new ground, as we have for over 170 years. As a fully integrated transatlantic and transpacific firm, we are where you need us to be. Our footprint is extensive and committed across the world’s largest markets, key financial centres and major growth hubs. At our best tackling complexity and navigating change, we work alongside you on demanding litigation, exacting regulatory work and complex public and private market transactions. We are recognised as leading in these areas. We are immersed in the sectors and challenges that impact you. We are recognised as standing apart in energy, infrastructure and resources. And we’re focused on areas of growth that affect every business across the world.
The Madrid office has advised the initial purchasers and lenders on the Spanish law matters relating to the €2.7 billion multi-source financing package for Luna 2.5...
Spain

The Madrid office has advised the initial purchasers and lenders on the Spanish law matters relating to the €2.7 billion multi-source financing package for Luna 2.5, the parent company of the Urbaser Group -a global leader in environmental solutions owned by Platinum Equity.

The financing structure included a combination of Rule 144A/Reg S Euro bonds and Euro-denominated commercial bank loans.

The Madrid team included partner Armando García-Mendoza, of counsel Luis Clouet, senior associate Carmen Hermosín and associate Miguel Alvargonzález. Of counsel Marta Esteban provided specialist advice on tax matters. A separate team, including partner Sergio Cires and associate Ricardo Echevarría, advised the existing lenders on the Spanish law matters concerning the cancellation of the existing financing and the release of existing security documents.

Contributor

Herbert Smith Freehills Kramer is a world-leading global law firm, where our ambition is to help you achieve your goals. Exceptional client service and the pursuit of excellence are at our core. We invest in and care about our client relationships, which is why so many are longstanding. We enjoy breaking new ground, as we have for over 170 years. As a fully integrated transatlantic and transpacific firm, we are where you need us to be. Our footprint is extensive and committed across the world’s largest markets, key financial centres and major growth hubs. At our best tackling complexity and navigating change, we work alongside you on demanding litigation, exacting regulatory work and complex public and private market transactions. We are recognised as leading in these areas. We are immersed in the sectors and challenges that impact you. We are recognised as standing apart in energy, infrastructure and resources. And we’re focused on areas of growth that affect every business across the world.
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