Garrigues counsels Audax on €200m CP programme

Garrigues has counseled Audax Renovables on the registration of a Commercial Paper (CP) programme with the Alternative Fixed Income Market (MARF) for a total amount of €200 million

This CP programme, that has been admitted to trading, will allow the independent renewable energy company to launch and place CPs in the Bolsas y Mercados Españoles (BME), the operator of all stock markets and financial systems in Spain during the next twelve months.

The company has officially communicated to the Spanish National Securities Market Commission (CNMV), that the CP programme has a maximum outstanding balance of €200 million and ends on March 30, 2021.

Garrigues was the legal advisor while the registered advisor appointed for the operation was PKF Attest Servicios Empresariales. The payment agent is Banco de Sabadell, which is also a collaborating entity together with Banco de Santander, Beka Finance, Bankinter and Ahorro Corporación Financiera.

Garrigues Barcelona Corporate team was led by partner Naiara Bueno (pictured) and included senior associate Leyre Miras and associates Alejandro Ramón and Arturo Noguer.