- The outstanding balance in commercial paper programs on the MARF rose to 6.331 billion euros at the end of May, 16.3% higher than at the end of the previous year
BME’s fixed-income market, MARF, has admitted to listing a new Commercial Paper Program from Saturn Group, the parent company of Culmia, for an amount of 50 million euros. The commercial paper issued under this program will have nominal values of 100,000 euros.
Banca March is the Registered Adviser for the issue and the Lead Arranger for the operation. Banca March itself and Kutxabank Investment are the dealers for the issue. For its part, Cuatrecasas has been the legal adviser and the credit rating agency EthiFinance has provided a solvency report on the issuer.
Saturn Group is a Spanish real estate company specializing in (i) the development, promotion, and commercialization of residential housing; (ii) the land development and (iii) the management of developments for third parties in a co-investment scheme. The Group’s activities encompass the full value chain of residential projects, including the identification and acquisition of land, urban planning, architectural design, construction oversight, marketing, and sales, as well as the management of residential assets for rental schemes. Saturn Group operates across key urban and metropolitan areas in Spain, addressing diverse housing needs with a focus on quality, customer service, and responsible development practices.
The MARF has 160 national and international issuing companies. At the end of May, the outstanding balance in commercial paper programs was 6.331 billion, representing an increase of 16.3% compared with the end of the previous year. There are 80 corporate and securitized commercial paper programs currently in force on this BME market, according to figures at the end of May.
You can consult all the information about the MARF on its website.
