ELECNOR has increased its March 2014 Commercial Paper Programme on MARF, which will allow it to issue new securities up to €200 million.
Prior to the increase, the volume, placed on the market between March and June 2014, had an outstanding volume of €100 million.
The company has also agreed a change in the maturity of the securities issued under the Programme, of up to two years.
The Commercial Paper Programme is coordinated by Banca March, which also acts as Registered Adviser and Sole Lead Arranger. J&A Garrigues participates as Adviser and Legal Advisor for the transaction.
ELECNOR is the parent company of a Group comprising 97 companies located in Spain and 33 other countries, including the United States, Canada, Brazil, France, India and the UK. It has operations in 4 main areas: infrastructure, renewables, concessions and "Deimos" - a new technologies area dedicated to the development of solutions and systems integration for the space, IT and communications fields. The company’s sales in the first half of 2014 amounted to €749 million, EBITDA for the period was €96.3 million and net income amounted to €29.1 million.