Ecoener launches pioneering €15 million mandatory convertible bond on Spain’s MARF market

The Alternative Fixed‑Income Market (MARF) admitted its first mandatory convertible bond issue, led by Spanish renewable‑energy company Ecoener. The €15 million transaction is intended to strengthen Ecoener’s financial structure and fund its growth plan. Family offices subscribed to the bonds, which will be converted into ordinary shares in August 2029, increasing the company’s equity.

Banca March acted as global coordinator and sole placement agent, also serving as registered adviser and paying agent. Legal advice was provided by Latham & Watkins, with placement‑agent counsel from Roca Junyent. Ecoener, listed on the Spanish stock exchange since 2021, operates 815 MW of wind, solar, hydroelectric and storage assets. BME highlighted the flexibility of its fixed‑income markets for issuers. MARF now hosts 160 issuers, with outstanding balances reaching €10.488 billion at the end of June, a 6.2 % year‑on‑year increase.