BME: The Value Of Bonds Issued By Companies Listed On MARF Exceeds €1 Billion - Less Than Two Years Since Its Creation

The value of Fixed Income issues on the MARF market has exceeded €1 billion, following the admissions that took place last week.

MARF started operations in October 2013 with the aim of helping medium and small size enterprises to gain access to finance by issuing debt instruments in the capital markets. Over the last 21 months the market has listed commercial paper, bonds and project bonds issued by 15 individual companies while 33 have accessed funding by packaging their receivables and bills into securitisation bonds.

This financing obtained through the alternative market has been channeled through issues of different nature and maturities. The companies on this market have raised €651.5 million through medium and long term bond issues - ranging from 5 to 26 years. Of this amount, €390 million were raised through secured and unsecured bonds, €30 million through securitisation bonds and €231.5 million through project bonds.

Through commercial paper, ie through short-term issues - ranging from 3 months to 2 years - companies have raised total volume of €369.5 million on MARF, through five issuance programmes which combined represent a total outstanding balance of up to €420 million.

"The trajectory of this market will remain marked by the innovation and diversification of the formulas it offers issuers in terms of maturity and financing instruments – commercial paper, unsecured bonds, securitisation bonds and project bonds -, with the aim of continuing to be a real alternative for companies in search of new sources of finance”, said Gonzalo Gómez Retuerto, Managing Director of MARF.