MARF registers a commercial paper programme by Grupo Jorge worth €75 million

  • With this programme the company diversifies its short term funding sources and complements the bond programme registered in MARF last February
  • MARF has been a capital raising vehicle for 44 companies, of which 28 have come back to the market to register new programmes or bond issues

The Mercado Alternativo de Renta Fija (MARF), a BME’s market, has registered a new commercial paper programme by Jorge Pork Meat with a total value of €75 million, marking a come-back for the company as it seeks to diversify its short term funding sources and complement the bond programme it registered in MARF last February. Under this new programme and over the next 12 months Grupo Jorge will be able to launch commercial paper issues in a flexible way with maturities ranging between 3 days and 2 years. The characteristics of each individual issue tranche will be determined during their placement and issuance among qualified investors.

Banca March is acting as the programme’s Global Coordinator and Placement Entity and is also Jorge Pork Meat’s Registered Advisor. The issuer’s legal advisor has been J&A Garrigues.

Founded in 1936 in Zaragoza Grupo Jorge is one of the largest meat groups in Spain and the leading national exporter in the pork sector, with sales in 2017 amounting to 995 million euros, EBITDA of 90 million and customers in nearly 80 countries.

Since its creation in 2013 by BME, MARF has supported 44 companies (including project bond issuers) in their capital raising processes. Of these, 28 have tapped the market for a second time to register new programmes or bond issues after their first access to the market.