Cuatrecasas advises El Corte Inglés on the renewal of its €1.2 billion commercial paper program on MARF
Cuatrecasas has advised the retail group El Corte Inglés S.A. on the renewal of its commercial paper program on the Alternative Fixed-Income Market (MARF) of the Spanish Stock Exchanges and Markets, for the issuance of up to €1.2 billion of commercial paper.
The listing documentation was registered with MARF on December 5, 2022. Importantly, the commercial paper issued under the program will be linked to sustainable goals, within the Normative Frame of Reference for Sustainability-Linked Financing approved by the group.
The transaction will enable El Corte Inglés to diversify its funding sources, access new investors and optimize its costs.
The Cuatrecasas team advising on this transaction was led by Finance partner Miguel Cruz
, with the support of Finance lawyers Jerónimo Poza and Miguel Ángel Gonzalo.