Cuatrecasas advises GAM on its debut on MARF with €50 million promissory note program

Cuatrecasas advised General Alquiler de Maquinaria (GAM) on registering a promissory note program—the “Programa de Pagarés GAM 2021”—with the Spanish Alternative Fixed-Income Market (“MARF”), with a maximum outstanding balance of €50 million.

With this program, the Asturian multinational will be able to place one or more issuances of promissory notes among qualified investors and professional clients with maturities of up to two years. Renta 4 Banco will act as collaborating entity, payment agent and registered advisor for GAM, and will be in charge of the distribution of the different promissory notes to be launched under the program.

The Cuatrecasas Finance Practice team advising on this transaction was made up of Miguel Cruz, Nuria Burillo and Gonzalo Terceño.

About GAM

GAM is a multinational company from Asturias specializing in rental and sales services of new and used machinery for lifting, energy, events, structures, and handling. It has been listed on the stock exchange since 2006 and in 2019 it posted consolidated revenues of €143 million and an EBITDA of €43 million.