New rules relax certain structural and procedural legal restrictions, helping Spanish companies access debt capital markets.

On 27 April 2015, the Spanish parliament passed Law 5/2015, of 27 April, of corporate finance promotion (the Law) which introduces major amendments into certain Spanish laws (the Amendments). The Amendments take effect starting on 29 April 2015 and are aimed at improving Spanish companies’ access to debt capital markets by developing and promoting non-bank related corporate finance sources.