The Alternative Fixed Income Market (MARF) has incorporated an innovative issuance of mandatory convertible bonds, the first of its kind in the history of this market, driven by Ecoener for a total amount of 15 million euros, according to BME.
With this operation, the energy company, which has been listed on the Spanish Stock Exchange since 2021, aims to strengthen its financing structure and support the execution of its expansion plan.
In detail, the issuance has been taken by 'family offices' that will integrate into the capital of Ecoener in August 2029, at which point the bonds will be transformed into ordinary shares of the company, thus contributing to increasing the equity and financial solidity of the group.
Banca March has acted as global coordinator and sole placement agent of the issuance, and will also assume the functions of registered advisor and payment agent of the operation. The law firm Latham & Watkins has served as legal advisor to the issuer, while Roca Junyent has provided advice to the placement agent.
The transaction highlights the flexibility that BME's Fixed Income markets offer to issuing companies, which have multiple alternatives tailored to their specific needs and growth strategies.
Currently, the MARF brings together 160 issuing companies, both national and international, and the outstanding balance of this market has risen to 10.488 billion euros at the end of June, representing an increase of 6.2% compared to the same period of the previous year.