- The line has an endowment of 1,000 million euros and is part of the ICO Companies and Entrepreneurs 2013 line.
- It will finance the acquisition by financial institutions of the bonds and / or promissory notes issued by Spanish companies.
The Official Credit Institute has launched a new line of financing to support the acquisition by financial institutions of the bonds and promissory notes issued by Spanish companies. With this measure, the ICO intends to expand its catalog of financing products made available to Spanish companies, with other financing instruments alternative to credit.
The line is aimed at Spanish companies that issue bonds and / or promissory notes admitted to trading on organized markets or in multilateral trading systems in Spain on the primary market, excluding companies that are listed on the IBEX 35.
This measure aims to boost access to financing for small and medium-sized companies, as the maximum amount per customer and issue is limited to 50 million euros.
The line finances up to 100% of the purchase price of the bond or promissory note in the primary market and the financing terms of the ICO to the financial institution vary from one to ten years.
This line falls within the bank disintermediation initiatives launched by the Government through the ICO, together with the recent creation of the FOND-ICO Global “Fund of Funds”.