Elecnor registers a multi-currency Commercial Paper Program in MARF for up to 400 million euros
Elecnor continues with its diversification strategy between bank financing and the capital market.
The Elecnor Group has today published a new multi-currency Commercial Paper Program on the Alternative Fixed Income Market (MARF), with a limit of 400 million Euros, to meet the working capital needs of its projects, both in Spain and internationally, in the areas of engineering, development and construction of infrastructures, renewable energies and new technologies.
As in previous years, the Elecnor Group's Program is linked to sustainability, including objectives for reducing greenhouse gas emissions and occupational accidents which, if not met, imply a commitment to contributions to sustainable projects.
The Program, valid until June 2027, will allow financing in euros and US dollars, with maturities of up to 24 months, through the issuance of commercial paper with a nominal value of 100,000 euros intended for institutional investors.
The Program is part of the strategy to diversify working capital financing sources and optimize its costs. In this context, the solidity of Elecnor's business model and reputation is highly recognized, which is allowing it to be one of the companies with the lowest costs in its Commercial Paper issuances. In the last twelve months, the company has carried out 46 issuances, maintaining an average outstanding balance of 142 million euros.
For this Commercial Paper Program, Elecnor will count on Banca March, Banco de Sabadell, Renta 4 and Kutxabank Investment as placing entities, assuming the distribution functions among investors. Banca March is also the Registered Advisor and Paying Agent.
Cuatrecasas is, once again, responsible for legal advice and G-Advisory is the consultancy that will issue the sustainability reports.