GAM issues €100 million bond prgram

Photo: GAM

Spain-based equipment rental company GAM Alquiler has issued a bond program with a maximum balance of €100 million, it has been announced. 

The company said the issue is part of a financing strategy as it aims to strengthen its economic and financial situation and improve its capabilities to compete in the markets in which it operates.

It may carry out one or successive issues of simple unsecured senior bonds in the future with a maturity period of between one and seven years, according to GAM. 

GAM has appointed Renta 4 Banco, a financial institution specialising in investment products and services, as registered advisor and payment agent for the program, while both Renta 4 Banco and EBN Banco de Negocios will act as collaborating entities.

The issue follows a similar offering of €50 million that it announced earlier this year.