2nd Yearbook Fixed Income and Alternative Financing IEB-Axesor

18th July of 2016

This study emphasizes that the current situation represents a unique opportunity that Spanish companies should not miss to diversify their sources of financing and thus reduce their dependence on traditional bank lending which, in terms of account for 80% of the financing, but which reaches even higher levels in small and medium-sized enterprises. The text addresses the different financing alternatives available to companies, such as the various fixed income issuance options, where Spain has an average annual volume of 25 billion euros in corporate issues; Fintech, which through technology replaces traditional banking intermediation with faster, custom-designed options that reach a wider range of perceptors; the expansion of the sharing economy through Crowdfunding; venture capital or private equity funds, which apply various options such as investing in equity, senior or subordinated debt; or direct lending, in its various formulations.