MARF has admitted to trading a €55 million secured bond issue launched by SIDECU, with a 5 year-maturity and a 6% annual coupon. The funds from the issue will refinance the Company existing debt, enable the development of new business lines and other corporative projects.
The issue has a secured structure and includes as collateral the concession rights, accounts and shares from some of the Group´s companies.
The Axesor rating agency has granted the issue a BB rating.
The bonds have been distributed among Spanish and foreign qualified investors by Arcano, who acts as Global Coordinator and Lead Manager and by Banco Cooperativo as Co-Lead Manager.
Arcano also is SIDECU’s Registered Advisor. J&A Garrigues has been the issuer Legal Advisor, while Cuatrecasas, Gonçalves Pereira has acted as Legal Advisor for the distributing entities.
SIDECU was set up in 1993 and currently operates under the commercial Brand “Grupo Supera”. The company specializes in the management, construction, development and management of Municipal Sports Centres. It currently manages 26 centres and will open 2 at the end of March. These are located in 16 Spanish provinces and the company recently opened its first centre in Portugal. It has a staff of 640 employees and during 2014 had more than 145,000 subscribers.