Elecnor has renewed its Commercial Paper Programme started on MARF a year ago, in this way following this short-term issue facility, which will allow the company to raise financing up to a maximum of €200 million. The individual nominal amount of each issue under the programme will be €100,000 and the maximum maturity is up to 2 years.
The Commercial Paper Programme is coordinated by Banca March, which also acts as Registered Adviser and Sole Lead Arranger, who will distribute these securities among qualified investors. J&A Garrigues participates as Legal Advisor for the transaction.
Gonzalo Gómez Retuerto, managing director of MARF, stated: “the renewing of Elecnor’s Commercial Paper is great news. It confirms the growing interest of companies in opening new financing channels and the interest of investors in buying fixed income securities issued by Spanish companies”.
Elecnor is the parent company of a group comprising 100 companies with operations in 4 main areas: infrastructure, renewables, concessions and "Deimos", this last linked with new technologies. The company has a strong international presence and besides Spain, it operates in 40 countries, among them United States, Canada, Brazil, France, India and the UK. Its sales in 2014 amounted to €1.7 billion, EBITDA for the period was €228.8 million and net income amounted to €58.5 million.