Monday, April 15, 2024

Cuatrecasas guides Urbas Group´s €200m CP and Bond Programme on MARF

Cuatrecasas has advised Urbas Grupo Financiero, S.A. on the incorporation of a Commercial Paper (CP) programme on the Alternative Fixed Income Market (MARF) for a maximum outstanding balance of €200 million, as well as a €200 million Bond Programme


The securities incorporation document was registered on the MARF on 17 January.

The funds raised will be used to make new investments and acquisitions, as well as to finance new projects, address various market opportunities that may arise in the future and continue to advance the company’s expansion plan.

This transaction will also allow Urbas to diversify its sources of financing and, at the same time, increase working capital, reduce financing costs and strengthen its growth potential.

Urbas may issue up to a maximum of €200 million in medium and long-term securities, which will have a unit face value of €100,000, fixed or variable interest rates. AFI has been appointed as registered advisor to the programme and Beka Finance acts as placement agent and paying agent.

Cuatrecasas also advised Urbas on its debut on MARF, with the registration of a €50 million Commercial Paper Programme.

Grupo Urbas was founded in 1944 as a concessionaire of transport services in Barcelona and throughout its nearly 80 years of history has expanded its activities into other sectors of the economy, such as real estate and concessions and, more recently, into the development, construction and energy business lines.

The Cuatrecasas team that advised Urbas in the process was led by Finance partner Jaime de la Torre, with the support of lawyers Gonzalo Terceño and Jerónimo Poza. Rebeca Rodríguez, a partner in the Tax area, and lawyers Javier Calle and Bruno de la Pedrosa were involved in Tax matters.

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