Portuguese company EFACEC chooses MARF for its debut in the capital markets

  • The company launches a 58 million euro-bond issue

MARF, BME’s Fixed Income market, has registered a new issue by Portuguese energy infrastructure company EFACEC Power Solutions, SPGS, for a total amount of 58 million euros. The bonds issued have a nominal value of 100,000 €, a term of five years - their maturity is scheduled for July 2024 - and will pay an annual coupon of 4.5%.

BEKA Finance and Optimal Investments have collaborated with EFACEC in this transaction as Coordinators. BEKA Finance also acted as Dealer in the placement of the bond and Banco Finantia as Co-Dealer, while VGM Advisory is EFACEC’s Registered Advisor with MARF. The Paying Agent for the bonds is Banco Comercial Português. Portuguese law firm Vieira de Almeida & Associados, Sociedade de Advogados, has advised the issuer on its debut in the capital markets and on the registration of the bond with MARF.

EFACEC Power Solutions has a BBB- corporate rating, stable outlook, granted by Axesor Rating agency.

The Managing Director of MARF, Gonzalo Gómez Retuerto, has expressed his satisfaction with this new bond issue: "We believe that MARF is a great alternative for Portuguese companies to raise funding via bond, commercial paper and project bond issues and to take advantage of the opportunities the capital markets offer them nowadays for their growth ". 

EFACEC is a Portuguese industrial Group with 70 years of history. The company specialises in the design and development of energy products and infrastructures, such as transformers, switchgears, electrical transport systems, industrial electrical equipment, etc. It also provides services related to the environment, such as water treatment, irrigation, etc, and, likewise, is a leading company in the development of transport systems and electric mobility.

The Group’s consolidated turnover in 2018 was 426.6 million euros, with an EBITDA of 37.3 million. The company has operations in 65 countries.