Evergreen steers Inveready´s registration as MARF´s 100th issuer
Evergreen Legal has advised Inveready and the financial entities on the registration of a €20 million CP Programme
BME’s Fixed Income Market, MARF, has admitted the first Commercial Paper (CP) Programme for trading from The Nimo’s Holding, the parent company of the Inveready Group. This listing gives the new issuer flexible access to qualified investors to diversify its financing sources and place CP up to a maximum outstanding balance of €20 million. The future issues will be guaranteed by several Inveready Group’s companies.
With the incorporation of Inveready, BME’s Fixed Income Market (MARF) crosses the major milestone of providing financing to 100 companies since it was created at the end of 2013. Today, total financed volume exceeds €5.9 billion.
EBN Banco de Negocios acts as Programme Arranger, while EBN itself, Andbank España and GVC Gaesco will be the Placement Entities. EBN will also act as Registered Advisor and GVC Gaesco as Payment Agent.
Evergreen Legal has advised all parties on the registration of the Commercial Paper Programme.
On April 9th Axesor Risk Management assigned the issuer a long-term credit rating of BB-, stable trend and a short-term rating of AS3.
Inveready’s core activities focus on two main business areas: the provision of corporate finance services to the ecosystem of small and medium-sized growth companies and asset management services for professional investors interested in allocating part of their wealth to this type of asset. In addition, the Group invests in small and medium-sized companies, directly and indirectly, through closed-end collective investment vehicles. It currently has a mandate for the management of 21 venture capital companies or funds, with assets under management of close to 500 million euros, comprising 800 investors, whose portfolios are made up of 135 active companies.
Evergreen Legal advised all parties on this deal with its co-founder and managing partner Alberto Campo Caballero (pictured)