RESTABELL enlarges its bond issue in MARF

• The company launches a new 4.5 million euro tranche with maturity in January 2022
• Last July it registered a 15 million euro bond programme and a first 5 million euro disbursement

Restaurants management company Restabell Franquicias today issued a new tranche of its variable-coupon bond, linked to Euribor plus 7% and maturing in January 2022, with a value of 4.5 million euros. The issuing price of this new tranche is 100.671% of the nominal value in order to adjust the current coupon’s accrued interest.

The first issue of this reference took place in July this year, coinciding with the registration of its Bond Program in MARF, for a volume of 5 million euros. This reopening brings the total volume issued by the company under this to 9.5 million euros. These issues are aimed at funding the opening of new Taco Bell restaurants, which the issuer will carry out to deliver on its expansion plan.

Intermoney Valores and EBN Banco de Inversiones have acted as Placement Entities for the new tranche. Intermoney is also the Registered Advisor with MARF for Restabell and EBN Banco is the Payment Agent. The legal adviser has been law firm Gómez-Acebo & Pombo.

The issuer has a B+ corporate rating, stable outlook, granted by Axesor Rating. With the personal guaranty provided by Netco Investments, Restabell’s main shareholder group, the bonds reach a BB- rating.

Restabell carries out its activities in the fast-food restaurant market in Spain, where it manages the Taco Bell tex-mex food brand. The company operates under the franchise model and, currently is the only franchisee in Spain. In June it received authorisation to sub-franchise the Taco Bell brand to other operators.