BME’s Fixed Income Market, MARF, has registered a new Bond Programme from General de Alquiler de Maquinaria (GAM) for a maximum outstanding balance of 80 million euros. With the registration of this new programme, GAM complements the 50 million euro Commercial Paper Programme it launched last January on MARF and expands its presence on the market. Through the placement of new bond issues, the company will be able to access qualified investors in a flexible manner to diversify its sources of medium and long-term financing with fixed or variable interest rates, linked to Euribor, and with bullet maturities or early redemption options.
Renta 4 Banco will act as Collaborating Entity, Payment Agent and Registered Advisor for GAM. Cuatrecasas has provided legal advice to the company in relation to the registration of this Bond Programme.
On 6 April, Axesor Rating assigned GAM a credit rating of BB with a positive trend.
GAM is a multinational company founded in Spain that specialises in machinery rental and sales services for lifting, energy, events, structures and handling. GAM's machinery is mainly used in sectors such as the metallurgical, automotive, ports and aeronautics, mining, chemical, renewable energy, logistics and food distribution. GAM also sells new and used machinery to third parties and, complementing its core activities, offers other related services such as training, maintenance and transport.
At international level, the company operates in 10 countries in Europe, South America, Africa and Asia, and is among the 31 largest companies by sales in its sector in Europe. GAM has been listed on the stock exchange since 2006 and in 2020 posted consolidated revenues of 133.6 million euros, with EBITDA of 38.2 million euros.