Cuatrecasas advised Ontime Corporate Union on the registration of a promissory note program in the Alternative Fixed Income Market (MARF) for a maximum outstanding balance of 100 million euros. The securities incorporation document was registered with the MARF on September 5, 2023.
The notes to be issued under the program will be linked to sustainability, in accordance with the Sustainability Linked Loan and Bond Principles (SLLP). In addition, they will benefit from a personal, joint and several first demand guarantee granted by subsidiaries of Ontime.
The Cuatrecasas team that advised Ontime on this transaction, which will enable the company to diversify its sources of financing and optimize its costs, was led by Jaime de la Torre, a partner in the finance department, with the collaboration of lawyers Jerónimo Poza and Sara Ruiz.