MARF registers Arteche’s new Commercial Paper Programme

30 October, 2020

BME’s Fixed Income Market, MARF, has admitted to trading the first Commercial Paper (CP) Programme from the Arteche industrial group. This CP programme will allow the new issuer in MARF flexibly to access qualified investors to diversify its financing sources and place CPs with a maximum outstanding balance of 50 million euros.  

Banco Santander has acted as Sole Arranger and Payment Agent for the programme. Banco Santander and Norbolsa will carry out the placement of the CPs and will distribute the different issues that will take place over the course of next year.

The Registered Advisor for the CPs programme is PriceWaterhouseCoopers (PwC) and GBP-Legal has provided legal advice to Arteche regarding the programme’s registration.

Grupo Arteche has a BB corporate rating, with a positive trend, granted by Axesor Rating.

Arteche is a multinational industrial group established in 1946 that operates in the power sector, focusing its business on the design, manufacture and marketing of electrical equipment. Additionally, it develops turn-key substation projects and renewable generation plants and offers energy quality and distribution automation solutions. The company has a presence in Spain, France, Germany, US, Mexico, Chile, Brazil, Argentina, UAE, India, Thailand, China and Australia, through its group companies, stakes in other corporations and representative offices. This international activity, both at productive and commercial level, allows Grupo Arteche to export its products and services to more than 150 countries on five continents.

In 2019 the company reached a consolidated turnover of 271.3 million euros and its EBITDA came in at 25.5 million.

Grupo Arteche employs more than 1,800 workers in the different countries in which it operates and is recognised for its socially responsible management in terms of environmental protection, commitment to society and ethical response to business challenges.

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