Banca March coordinates the registration of a new EUR 75 million MARF Promissory Note programme for Grupo Ortiz
31 May 2022 Category: General
The programme has been registered today on the Alternative Fixed Income Market (MARF), with Banca March acting as arranger, paying agent and dealer.
- The short-term fixed-income programme was registered today by the MARF.
- Banca March has cemented its position as the leading arranger and dealer for short-term programmes in the Spanish market.
- The Grupo Ortiz programme reaffirms the growing interest of Spanish companies in alternative finance in the capital markets.
Banca March has been mandated as the coordinator of a new short-term fixed-income programme for Ortiz Construcciones y Proyectos, S.A. for a maximum amount of 75 million euros.The programme has been registered today on the Alternative Fixed Income Market (MARF), with Banca March acting as arranger, paying agent and dealer.
The securities issued will be denominated in euros and may have different maturity dates of up to 24 months. Grupo Ortiz will therefore be able to harness this programme as an alternative to bank financing. This programme reaffirms the growing interest of Spanish companies in alternative finance in the capital markets.
Banca March is now the leading bank in the Spanish short-term debt market, participating in 47 programmes for Spanish issuers on the MARF and the Irish Stock Exchange. For most of these transactions, the bank has undertaken all three of the key commercial paper market roles: coordinator, agent bank and dealer.
In the case of the MARF, Banca March is anarranger for 25 of the 77 programmes currently on the Market, 32% of the total, while it is a dealer for 38 of the 77 programmes, 49%. In terms of volume, at the end of April, 42% of the outstanding market balance had been placed by Banca March's institutional distribution desk, EUR 1,981 million out of a total of EUR 4,717 million.
Banca March provides these services on short-term fixed income programmes for Elecnor, Tubacex, DS Smith Spain, Barceló, Acciona, IM Fortia 1, Gestamp, Fluidra, Ulma, Sacyr, Euskaltel, Viesgo, Grupo Jorge, TSK, Cie Automotive, Coren, Pryconsa, Sidenor, Sorigué, Abertis, Insur, Urbaser, Ormazabal, Cellnex, Maxam, FCC, Meliá, Vidrala, Grupo Gransolar, FCC Servicios Medioambiente, Técnicas Reunidas, Cementos Molins, Ultracongelados Virto, Teknia, Nexus Energía, Cobra, Audax Renovables, García Munté Energía, Ontime, Amper, Acciona Energía, Zener Encitel, Masmovil, Avatel, Greenalia, La Sirena and Grupo Ortiz.