Cuatrecasas has advised Banco Caminos and Bancofar on registering a dual mortgage-backed bond program on the Spanish Alternative Fixed-Income Market (MARF) for a joint maximum total of €200 million, €90 million for Banco Caminos and €110 for Bancofar. The listing document was registered with MARF on May 24, 2023.
The mortgage-backed bonds will be issued in compliance with the regulations provided under Royal Decree-Law 24/2021. Also, the bonds issued by Bancofar will have a joint and several personal guarantee at first demand from Banco Caminos.
Banco Caminos was linked from its inception to the civil engineers’ sector until it generalized its services in 2008. Bancofar focuses on the financial requirements of professionals in the pharmaceutical and healthcare industry.
In addition to providing access to new sources of financing, the operation will enable the Caminos Group—which includes the two banks—to meet its general corporate needs.
The Cuatrecasas team handling the advisory services was led by Finance partner Jaime de la Torre with the support of lawyers Jerónimo Poza and Iván Wesolowski.
June 13, 2023
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