Ontime Registers Sustainability-linked Bonds Program for up to €100 million on MARF

Published on Oct 9, 2026

Cuatrecasas has advised Ontime Corporate Union ("Ontime”) on registering a sustainability-linked bond program on the Spanish Alternative Fixed-Income Market ("MARF”) for the maximum amount of €100 million, and on the first issue under it.

Ontime’s fixed-income program—in which Banca March is the placing entity, paying agent, and registered adviser—complies with the sustainability-linked bond principles of the International Capital Market Association.

In 2025, the company's revenue amounted to €1.05 billion with an EBITDA of €103.6 million. Ontime went into this transaction backed by a BB credit rating with a stable outlook from rating agency EthiFinance Ratings. This highlights the logistics group’s strength and growth in recent years.