ECIJA steers Parlem Telecom´s €3m bond issuance

ECIJA has advised Parlem Telecom on the issuance of a €3 million convertible bond

Parlem Telecom has issued a €3 million convertible bond to finance the company’s territorial expansion, which includes the opening of dozens of physical shops in Catalonia in the coming months. The Catalan telecoms operator has reached an agreement with Private Equity firm Inveready, which has led the subscription of the bond along with Parlem Telecom’s other main investors.

The Catalan company is firmly committed to territorial capillarity in its business strategy, with a strong focus on customer proximity. The bond issue is also the prelude to Parlem Telecom’s IPO, which will take place on BME Growth. The telecommunications operator also plans to use the bond’s capital to finance the acquisition of several small companies, which will strengthen, in particular, its offer of specific services for companies. The convertible bond will mature in 2026.

Located in the 22@ district of Barcelona, Parlem Telecom is a cutting-edge operator that develops innovation projects, such as 5G pilots in the metropolitan area or artificial intelligence projects in Catalan, and at the same time is very involved in the promotion of the ICT sector in the country.

Currently, the three main shareholders of Parlem Telecom are Ernest Pérez-Mas, founder and CEO of the company, Ona Capital (a Venture Capital company linked to Bon Preu Esclat) and Inveready. The three of them account, directly and indirectly, for around 59 per cent of the total shareholder value of the telecommunications operator, while the remaining private partners and Catalan family offices account for 30 per cent. The remaining shareholders are mainly small investors (through The Crowd Angel platform).

ECIJA Barcelona office partner Xavi Muñoz (pictured) led the legal advice to Parlem Telecom, together with associate Daniel Marrodán.