PRESS RELEASE

New bond issue on MARF by Grupo Pikolin

Through 5-year bonds

Grupo Pikolin has again relied on MARF for a bond issue with maturity in 2021 and a size of €14 million, following earlier issues it carried out on this market.

The previous transactions by Pikolin on MARF were two bond issues in May 2015, with maturities of 7 and 10 years with a combined value of €30 million, and the launch of a Commercial Paper Programme with an outstanding balance of €50 million, which started last March.

The objective of this new issue is to refinance part of the existing debt of Grupo Pikolin, strengthening its financial position by extending its maturity and attracting new investors who wish to join the company in its future growth plans.

The individual nominal value of each bond in this issue is 100,000 euros. The bonds will pay an annual coupon of Euribor + 375 bp. The final amortisation, bullet (par at maturity), will be 18 May 2021.

On May 9 Axesor confirmed the issuer’s BB rating, with a stable outlook.

N + 1 Group has advised Grupo Pikolin in the launching of this new bond in the market and acts as Global Coordinator, Bookrunner and Registered Advisor for the bonds. In this transaction Pikolin has relied on J & A Garrigues for legal advice.

Over the last few months Pikolin has pushed on with its international expansion process by acquiring a 51% stake in the Brazilian specialist chain Sleep House and will commercialise the Group’s resting product range through the 41 outlets it operates in the Sao Paulo area. Grupo Pikolin has ten factories: two in Southeast Asia, China and Vietnam, five in France and three in Spain, and distributes its products worldwide in 65 countries.

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