Cuatrecasas Guides GAM in a Sustainability-Linked Note Program
Cuatrecasas advised General de Alquiler de Maquinaria (GAM) on the incorporation of a sustainability-linked promissory note programme in the Alternative Fixed Income Market (MARF), with a maximum outstanding balance of 50 million euro.
Issued under the note programme, the securities will be sustainability-linked, according to the SPO issued by G-Advisory on 22 January 2024 in relation to this programme, and will be linked to the achievement of sustainability performance targets in relation to two KPIs set out in the incorporation document, which was filed with the MARF on 31 January.
The funds raised will be used by the company to make new investments and acquisitions, as well as to finance new projects, address the various market opportunities that may arise in the future and continue to advance the company’s expansion plan. All of this is in line with GAM’s sustainability performance objectives. The transaction will also enable the company to diversify its sources of financing, increase working capital, reduce financing costs and strengthen its growth potential, among other things.
The Cuatrecasas team responsible for advising on this process was led by Miguel Cruz (pictured left), a partner in the Finance group, with the support of lawyers Gonzalo Terceño Alonso (pictured right) and Alejandra Azinovic Álvarez.
