Cuatrecasas advises Ontime on €100M bond programme
Cuatrecasas has advised logistics group Ontime Corporate Union on the registration of a sustainability-linked bond programme with a maximum amount of €100 million on Spain’s Alternative Fixed-Income Market (MARF), as well as on its first issuance under the programme.
Banca March acted as placement entity, paying agent and registered adviser. The programme is aligned with the Sustainability-Linked Bond Principles (SLBP) issued by the International Capital Market Association (ICMA).
Ontime reported revenue of more than €1.056 billion in 2025 and EBITDA of €103.6 million. The group has a BB rating with a stable outlook from EthiFinance Ratings.
The team
The Cuatrecasas team was led by Jaime de la Torre and Álvaro Heras, from the firm’s Capital Markets and Banking and Finance practice.
