TUNGSTENO

Books for understanding the era of technology

The researcher Lluís Montoliu presents in his book Editing genes: cut, paste and colour, the keys to understanding the genetic revolution. Credit: José Luis Pindado. JAVIER YANES | Tungsteno We live in times of great technology-driven…

INNOVATION TUNGSTENO

Coffee with blockchain for fairer trade

Blockchain can guarantee not only the quality of the coffee we drink but also the conditions in which it has been produced. Credit: Jo Lanta.   ISABEL RUBIO ARROYO | Tungsteno Coffee is consumed in many forms: black, espresso, d…

TUNGSTENO

The challenges of making the electric car greener

The manufacture of an electric car can pollute more than a conventional one. Credit: Nissan.   ISABEL RUBIO ARROLLO | Tungsteno No noise and no exhaust. The automobile industry is moving towards an electric future. Japanese comp…

INNOVATION AWARDS

Predicting the future to improve road safety

Manuel Suárez is the CEO of Valencia-based startup Tyris AI, winner of the eighth edition of the Sacyr Innovation Awards in the External category. The team at Tyris AI submitted the best project to address the challenge set by Sacyr invo…

TUNGSTENO

Smart car parks to make cities more liveable

A view at the inside of one of the automated car tower park of Volkswagen in Wolfsburg (Germany). Credit: Sdu7cb.   FRANCESCO RODELLA | Tungsteno From Dubai to Mexico City, from New York to Madrid, in the last decade cities have…

TUNGSTENO

Four materials that seem impossible

Researcher Veena Sahajwalla has invented a "green" steel from recycled tires. Credit: UNSW Sydney   FRANCESCO GODELLA | Tungsteno If most of us were given 30 seconds to indicate some material that surrounds us on a daily basis th…

angle-left Team work for more complex financing
INNOVATION NATURAL INNOVATION AWARDS

Team work for more complex financing

Joaquín Camacho Calderón (Finance), Pablo Mochón López (Concessions) and Miguel Ángel Rufo Acemel (Concessions and Constructions in Italy) are the creators of one of the most complicated projects at Sacyr in the last year: the financing of the Pedemontana-Veneta motorway in Italy. This transaction came about as a result of a notes issue on the Irish Stock Exchange, one of the world's main securities markets for listed debt.

The strategy they designed to make the financing a success included an issuance of senior notes to the value of 1.221 billion euros and 350 million euros of junior notes. The success of this transaction was acknowledged through Sacyr's Natural Innovators prize.

The transaction was based on three pillars. “Efficiency in contributions of shareholder resources, generating a maximum return on these; its financial stability and predictability through the issuing of very long-term notes – 30 years – thus avoiding financing risk and, lastly, generating cash flow through the development of an innovative structure which enables the asset to contribute distributions to the shareholder as from its commissioning”, explained Miguel Ángel Rufo.

Miguel Ángel and his colleagues received their award with “pride”, due not only to the recognition as regards financial innovation but also to their work method.

“This project was developed jointly between different business and corporate areas at Sacyr, whose sole objective was the overall good of the company, with the greatest transparency and generosity from all the parties”, indicated Rufo.

The award recognises their teamwork, something which characterises Sacyr and which, in Rufo's opinion, is a hallmark which sets the multinational apart from the rest and gives it “a strength which makes it unbeatable in comparison to other companies”.

Innovation and creativity are necessary concepts in the financial world. The sector is evolving at great speed. Models such as that developed by Joaquín, Pablo and Miguel Ángel prove the need to adapt to change, generating synergies in the team and obtaining the best of those participating in it and their divisions.

The innovative nature of the financial strategy developed by the three colleagues at Sacyr has been recognised internationally, through awards such as the Project Finance International 2017 award in the Best European Operation in the field of transport infrastructure category; the award for the best European public-private project (PPP) of the Infrastructure Investor Awards 2017; the prize for the best European financing of a road project at the IJ Global Awards 2017; and the Transport Project Finance of the Year from TXF.

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