GA_P guides EBN Banco´s first MARF CP Programme

Gómez-Acebo & Pombo has advised EBN Banco on its debut on MARF with a €100 million Commercial Paper Programme

MARF, BME’s Fixed Income market, has admitted the first Commercial Paper (CP) Programme of EBN Banco de Negocios for trading. EBN thus expands its investment product offering aimed at its institutional clients and will access new qualified investors to place CPs up to a maximum outstanding balance of €100 million. The CPs to be issued will have a nominal value per unit of €100,000 and maturities ranging from 3 days to 2 years.

Norgestion acts as Registered Advisor for the Commercial Paper Programme, while EBN Banco itself will place the issues to be launched under the Programme. EBN will also be the Payment Agent for the Programme.

Axesor Risk Management has assigned EBN Banco de Negocios a credit rating of BBB-, with a stable trend.

EBN Banco de Negocios is a credit institution incorporated in 1982, registered with and under the supervision of the Bank of Spain, whose main business lines are the Investment Banking Area, through which it originates and structures in the capital markets DCM (Debt Capital Market), ECM (Equity Capital Market), M&A (Mergers & Acquisitions) and Advisory transactions, aimed at corporations and public institutions; the Corporate Banking Area, in which it carries out credit investment and specialised financing activities; EBN Titulización, a securitisation fund management company registered with the CNMV, through which it sets up and administers securitisation vehicles; and EBN Capital, the bank’s manager of collective investment institutions, which focusses on the management, administration and representation of investment vehicles, mainly of an alternative nature and aimed at sophisticated investors.

In addition, the incorporation of this CP Programme is the first to be carried out on MARF since the entry into force, on 3 May 2021, of Law 5/2021, of 12 April, which amends, among other regulations, the Consolidated Text of the Securities Market Law, with the consequent need to adapt the process to the new regulations.

The Gómez-Acebo & Pombo´s team was led by Commercial partner Guillermo Guerra (pictured left), along with Banking senior associate Lázaro García (pictured right).