Fifteenth commercial paper programme in the market
The Mercado Alternativo de Renta Fija (MARF) has registered a Commercial Paper Programme by Teknia Manufacturing Group with a maximum amount of €25 million, which will allow the company to tap the market again while at the same time exploring a new way of pushing forward with its process of growth and diversification of its short-term funding sources, following the €40 million Medium Term Notes Programme listed in MARF last June.
Banco Sabadell and Bankinter participate as placement entities for the programme and PKF Attest is the Registered Advisor. Law firm Cuatrecasas, Gonçalves Pereira has acted as legal advisor during the registration with MARF.
Teknia has a BB corporate rating with stable outlook granted by Axesor.
Teknia Manufacturing Group is a multinational company which started as a family group in 1992 and focuses on the automotive sector as a developer and supplier of components for different brands: Bosch, Continental, Valeo, Renault or Nissan, among others.
The multinational operates in 12 countries, including Spain, Poland, Brazil, Czech Republic, Mexico, USA and, recently, Turkey, where it has 20 production plants, four commercial offices and two Research and Development centres that provide services worldwide. Grupo Teknia has more than 2,600 employees and in 2015 it achieved consolidated sales of €246 million.