- The company, which already has a €150-million Commercial Paper Programme, again relies on this BME market for its long term issues
MARF, BME’s Fixed Income market, today registered a 100 million euro new bond programme by Tubacex, which has again placed its trust in this market. This new mechanism complements its Commercial Paper Programme, started in 2014, which allows the company to raise short-term financing up to 150 million euros.
The bonds under this new programme may be issued in euros or dollars and will have nominal per-unit values of 100,000 euros or dollars. Their coupons will be fixed or variable, linked to the EURIBOR or the LIBOR indexes, and their maturity may reach up to 10 years.
Banca March is the Registered Advisor of the Bond Programme, where act as Arrangers and Placement Entities, Banca March itself, Norbolsa, Ahorro Corporación Financiera and Banco Sabadell, which will place the bond issues among qualified investors. Cuatrecasas Gonçalves Pereira has advised the issuer on the legal aspects of this operation.
"This new Programme is great news and a very good example of how this Market offers a wide range of financing solutions for companies, "said Gonzalo Gómez Retuerto, Managing Director of MARF.
Tubacex is a world leader in the manufacture of seamless stainless-steel tubular products and high alloys for the energy sector, oil, gas, petrochemical chemistry and aeronautical and aerospace industries. It sells more than 95% of its production outside Spain and offers a wide range of services that include the design of customized solutions, installation and maintenance operations.
Tubacex has production plants in Spain, Austria, Italy, the United States, India, Thailand, Dubai, Saudi Arabia and Norway; service centers worldwide; and a commercial network in 38 countries. Tubacex has been listed on the Spanish Stock Exchange since 1970 and is part of the "IBEX SMALL CAPS" index.