The Mercado Alternativo de Renta Fija (MARF) has admitted a commercial paper programme by Europac, registered with MARF, with a maximum outstanding amount of €50 million.
Banca March is the Sole Lead Arranger and Registered Adviser for this issue and has designed, structured and distributed the issue of this commercial paper among its own institutional and qualified clients, while also acting as payments agent. The legal adviser for the issue is J & A Garrigues.
The maturity of the commercial paper issued under this programme will be of up to 365 calendar days (twelve months).
The nominal amount of the securities, whose registration and settlement will be carried out by Iberclear, is €100,000. The interest rate will be decided on a case by case basis.
EUROPAC, founded in 1995 and listed on the stock exchange since 1998, is the parent company of a Group operating in all sectors of the paper and packaging cardboard industry, from the integral waste management and forest exploitation as a source of raw materials necessary for the production of recycled paper and kraft liner at its plants in Spain, France and Portugal, to the production of cardboard and boxes as final products. The company has an installed capacity of 153 MW to meet the energy demand linked to the paper production process.
This commercial paper programme is the third registered with MARF, following the two previous ones, by Elecnor, with a maximum amount of €100 million, and Tubacex, with a maximum value of €29.9 million.