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Gestamp registers a Commercial Paper program with MARF for 150 million euros

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11.28.2016

Gestamp has registered a Commercial Paper Program in Mercado Alternativo de Renta Fija (MARF) with a maximum outstanding amount of €150 million. The issued Commercial Papers will have nominal unit values of 100,000 euros and repayment terms of up to 2 years.

For the purposes of carrying out the process, Gestamp collaborated with Banca March as a registered MARF advisor, as well as the collaborating entity and "Sole Lead Arranger" of the various issuances made under the program. The law firm, Cuatrecasas, was responsible for providing legal advice for the operation.

With this Commercial Paper Program, Gestamp aims to diversify its financing sources, drawing on additional channels to continue improving its debt profile. On this occasion, the company is using the MARF, which channels financial resources from a large number of companies in order to secure financing through the issuance of fixed-income securities.