Banca March mandated as arranger of new €50m commercial paper programme on Spain's MARF for Palladium Hotel Group
15 October 2024 Category: Agreements
- Palladium Hotel Group has registered the programme through Residencial Marina, S.L.
- Banca March has cemented its position as the leading arranger and dealer for short-term programmes in the Spanish market.
- The Palladium Hotel Group programme confirms the growing interest among Spanish companies in seeking alternative finance in the capital markets.
Banca March has arranged a new short-term fixed-income programme for Palladium Hotel Group for a maximum amount of €50 million. The programme was registered today on Spain's 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. Palladium Hotel Group will use this programme as an alternative to bank financing. This programme evidences the growing interest among Spanish companies in securing alternative finance in the capital markets.
Banca March is now the leading bank in the Spanish short-term debt market, participating in 70 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: arranger, agent bank and dealer.
Banca March is the arranger for 38 of the 87 programmes currently trading on Spain's MARF, 44% of the total, and is the dealer on 57 programmes, 64% of the total. In terms of volume, at the end of August, 47% of the outstanding market balance had been placed by Banca March's institutional distribution desk, accounting for €2.07bn out of a total of €4.37bn.
Banca March provides these services on short-term fixed income programmes for Elecnor, Tubacex, Barceló, Acciona, IM Fortia 1, Gestamp, Fluidra, Ulma, Sacyr, Euskaltel, 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, Teknia, Nexus Energía, Audax Renovables, García Munté Energía, Ontime, Amper, Acciona Energía, Zener Encitel, Masmóvil, Avatel, Greenalia, La Sirena, Grupo Ortiz, Network Steel, Aludium, Record Go, Atlantica Sustainable, Ecoener, Agotzaina, CAF, OPDEnergy, IM SUMMA, GAM, CESCE FAF, AEDAS, ENCE, AZVI, Cunext, Dominion, Eroski, Premier, Prosegur Cash, Minersa, Talgo, Iberdrola, Telefónica and Palladium Hotel Group.
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