Cuatrecasas advises Ontime on registering a promissory note program on MARF with a maximum outstanding balance of €100 million
Cuatrecasas has advised Ontime Corporate Union, S.A., on registering a promissory note program on the Spanish Alternative Fixed-Income Market (MARF) with a maximum outstanding balance of €100 million. The listing document was registered with MARF on September 5, 2023.
The notes to be issued under this program will be linked to sustainability, in accordance with the Sustainability Linked Loan and Bond Principles (SLLP). In addition, they will benefit from a first demand joint and several guarantee provided by Ontime subsidiaries. This transaction will enable Ontime to diversify its sources of financing and optimize costs.
The Cuatrecasas advisory team was led by Finance partner Jaime de la Torre with the support of lawyers Jerónimo Poza and Sara Ruiz.