Grupo Insur admits €30 million bond issue to listing on Spanish Alternative Fixed-Income Market

Cuatrecasas advised Bestinver Sociedad de Valores, S.A., which participated in the transaction as sole lead arranger and placement entity, on the registering by Grupo INSUR, through its subsidiary INSUR PROMOCIÓN INTEGRAL, S.L.U. (“IPI”), of a bond issue on MARF-BME. The bond issue, named Emisión de Bonos INSUR Senior Secured 2021, is worth €30 million, with an annual coupon rate of 4% and maturity in 2026, secured by its parent company, INMOBILIARIA DEL SUR, S.A. (“INSUR”).

With the revenue obtained, IPI will acquire land and plots for its development activity and, therefore, will finance its activity growth.

The team advising on the transaction was made up of lawyers Jaime Javier de la Torre Viscasillas, José Moya Yoldi, Mercedes Tulla Valenzuela and Alfonso Peña Alvarado.

Zurbarán Abogados was legal advisor to Grupo INSUR; it appointed Bondholders, S.L. as commissioner of the syndicate of bondholders; Bankinter, S.A. as payment agent; and GVC Gaesco Valores, S.V., S.A. as the issue’s registered advisor.