The Mercado Alternativo de Renta Fija (MARF) has registered a Medium & Long-Term Programme by Teknia Manufacturing Group with a maximum amount of €40 million, which will allow the company to issue bonds over the next 12 months with fixed and variable interest rates and maturities that will range from 4 to 7 years.
Banco Sabadell and Bankinter are acting as Global Coordinators and Bookrunners for the programme while Renta 4 Banco is acting as Registered Adviser. Cuatrecasas, Gonçalves Pereira has legally advised the issuer and J&A Garrigues has provided the bookrunners with legal advice.
Axesor has given Teknia a corporate rating of BB with stable outlook.
Teknia Manufacturing Group is a family business with a multinational orientation. It operates in the automotive sector as a manufacturer and supplier of parts and components for different clients (Bosch, Continental, JCI, TRW, Valeo, Renault, Nissan, Audi, and Seat). The automotive unit is composed by 3 industrial divisions: Plastic, Metal and Machining; and it has also a knowledge, technology and R+D business unit - called Teknia Technologies - focused on the research and development of new designs, components, processes and prototypes.
The Group operates 19 production subsidiaries in 8 countries, which include Spain, Poland, Brazil, Czech Republic, Morocco, Mexico, Serbia, USA, as well as three technical/commercial offices in Germany, EEUU and South Korea. It currently employs more than 2,500 people. In 2015 the company posted consolidated sales of 246.3 million euros and EBITDA of 22.5 million.