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Saturday, March 25, 2023
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Evergreen advises Euskaltel on the renewal of its €200m CP Programme

Evergreen Legal has advised Euskaltel on the renewal of its Commercial Paper (CP) Programme on BME´s MARF, for a maximum outstanding balance of €200 million

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Euskaltel has registered on the Spanish Alternative Fixed-Income Market (MARF) the renewal of its Commercial Paper Programme, called “Commercial Paper Programme EUSKALTEL 2023”.

The maximum amount of outstanding issuances of Commercial Paper under the Programme will be a nominal of €200 million. Each Commercial Paper will have a nominal value of one €100,000, meaning that the maximum number of issuances of Commercial Paper in circulation at any given time will not exceed 2,000. The term of validity of the Programme is one year from the date of incorporation of the Memorandum with MARF.

The Euskaltel Group is the leading optic fibre telecommunications group (broadband, phones, Pay TV and convergent telecommunications services) in the north of Spain, characterised by its strong roots and commitment to the regions of the Basque Country, Galicia and Asturias, where it has traditionally developed its activities through its operators Euskaltel and R Cable y Telecable, and more recently in Navarre, La Rioja, León, Cantabria and Catalonia and in the rest of Spain with Virgin telco, which launched on the market in
May 2020.

Banca March as the Issuer’s registered advisor. The Dealers are Banca March, Banco Santander, Banco de Sabadell, BRED Banque Populaire, Norbolsa and PKF Attest Capital Markets. Banca march will also act as Paying Agent.

Evergreen legal acted as Legal advisor to Euskaltel with a team formed by partner Alberto Campo and counsel Yurena Medina, the same team that advised the company on its 2022 CP Programme, as reported by Legal Dealmaker.

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