• The line has a budget of 1,000 million euros and is part of the ICO Companies and Entrepreneurs 2013 line.
  • It will finance the acquisition by the financial entities of the bonds and / or promissory notes issued by Spanish companies.

The Official Credit Institute has launched a new financing line to support the acquisition by the financial entities of the bonds and promissory notes issued by the 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 in organized markets or in multilateral trading systems in Spain in the primary market, excluding companies listed on the IBEX 35.

This measure is intended to strengthen access to finance for small and medium-sized companies, since the maximum amount per customer and issuance 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 entity vary from one to ten years.

This line is part of the bank disintermediation initiatives launched by the Government through the ICO, together with the recent creation of the “Fund of Funds” FOND-ICO Global.

Source of the new