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Aedas Registers a New Promissory Note Program with a Maximum Balance of €150 Million

The property developer backed by Castlelake has incorporated a promissory note issuance program into the MARF, with a maximum outstanding balance of €150 million, to diversify its financing lines.

David Martínez Consejero Delegado AEDAS Homes 1 1024x575 1 1
David Martínez, CEO of Aedas Homes.

The listed property developer Aedas Homes, controlled by the American fund Castlelake, has decided to strengthen its financial muscle in the midst of the Covid-19 pandemic. To this end, the company led by David Martínez has incorporated a promissory note program into the MARF, with a maximum outstanding balance of 150 million euros and a maximum maturity of 24 months, according to the National Securities Market Commission (CNMV).

The company, which debuted on the capital market just two years ago with another issue on the MARF, is using this formula to enable the diversification of its financing channels. PKF ATTEST has been appointed as registered advisor to the program and Banco Santander as the payment agent.

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