INNOVATION TUNGSTENO

Algorithms to prevent energy wastage

Energy effiency has its greatest allies in technologies such as Big Data or Artificial Intelligence. Credit: Israel Palacio. FRANCESCO RODELLA | Tungsteno Achieving energy efficiency is one of the great challenges facing society, the c…

TUNGSTENO

From supersoldiers to super construction workers

Devices such as exoskeletons have reached the construction sector, facilitating the performance of heavy tasks. Credit: Ekso Bionics.   FRANCISCO RODELLA | Tungsteno Automation no longer only affects specific industries, such as …

TUNGSTENO

The world’s five smartest cities

  London has launched the Heathrow Pods, a rapid transist system with driverless vehicles that connect the city with the airport. Credit: Ultra Global PRT.   ISABEL RUBIO | Tungsteno According to the United Nations, 55% of…

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Organic waste: a new construction material

Food waste has already been transformed into biobased materials applicable in the automotive and construction sectors. Credit: Rebecca Murphey.   ISABEL RUBIO | Tungsteno Each citizen of the European Union produces an average of …

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How does an autonomous car think?

Firefly 1 is Waymo's (Google) fully self-driving reference vehicle. Credit: Waymo.   FRANCESCO RODELLA | Tungsteno The idea that in the future we’ll be able to travel in cars that drive themselves either excites us or makes our h…

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Fazlur Rahman Khan, the visionary of skyscrapers

What we owe to Fazlur Rahman Khan is the design of the structural system of tubes, essential for the construction of skyscrapers. Credit: Wikimedia / Skidmore, Owings & Merrill LLP . ISABEL RUBIO ARROYO | Tungsteno The skyscraper B…

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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