Ecoener raises €15M in first convertible bond on Spain's MARF
What's the deal? Spanish renewable energy group EcoenerDealroom has a profile for this one. Try Dealroom → has raised €15 million through a mandatory convertible bond issuance, with Banca MarchDealroom has a profile for this one. Try Dealroom → acting as placement agent. The bond will be listed on the Mercado Alternativo de Renta Fija (MARF).
Why now? The issuance is the first convertible bond ever admitted to trading on MARF since the market launched in 2013. RocaJunyent advised Banca March, with a team led by capital markets partner Jaime Tarrero and support from Guillermo Iglesias.
What's the endgame? The instrument gives Ecoener an alternative source of financing. For Banca March, the deal strengthens its activity in structuring and placing capital markets instruments.
The signal: A convertible bond let Ecoener return to capital markets quickly and reinforces MARF's role as a platform for novel transactions in Spain.
Read more: Iberian Lawyer
Image credit: petter palander
