Banca March mandated as arranger of new €50m commercial paper programme on Spain's MARF for Zener Encitel
05 November 2021 Category: Agreements
In the case of the MARF, Banca March is an arranger for 22 of the 68 programmes currently on the Market, 32% of the total, while it is a dealer for 33 of the 68 programmes, 49%.
- 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 Zener Encitel programme reaffirms the growing interest of Spanish companies in alternative finance in the capital markets.
Banca March has been mandated as arranger of a new short-term fixed-income programme for Zener Encitel, S.L. for a maximum amount of 50 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. Zener Encitel 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 43 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.
In the case of the MARF, Banca March is an arranger for 22 of the 68 programmes currently on the Market, 32% of the total, while it is a dealer for 33 of the 68 programmes, 49%. In terms of volume, at the end of October, 46% of the outstanding market balance had been placed by Banca March’s institutional distribution desk. 1.86 billion euros out of a total of 4.09 billion euros.
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 and Zener Encitel.