PRESS RELEASE

SIDENOR registers for the first time a commercial paper programme on MARF

BME’s Fixed Income Market, MARF, has admitted a 25 million-euro Commercial Paper (CP) Programme by the Basque industrial group Sidenor Aceros Especiales. This is the first time that Sidenor has tapped the capital market and with this new financing tool the company can place CPs in a flexible manner with maturities up to 2 years.

Norbolsa acts as Sole Lead-Arranger of the Commercial Paper Programme. The Placement Entities will be Norbolsa, JB Capital Markets and Banca March, which is also the issuer’s Registered Advisor in MARF.

Linklaters has advised Sidenor on the legal aspects of the registration of the Commercial Paper Programme with this BME market.

Sidenor Aceros Especiales is a leader in the European steel industry for the production of Special Bar Quality (SBQ) steel and stainless steel. It is also an important supplier of cold finished products in the European market. The company has been in the industry for more than 50 years and has production centers in the Basque Country, Cantabria and Catalonia as well as business delegations in Germany, France, Italy and the U.K.

Sidenor’s steel production capacity exceeds one million tons annually. The company has one of the largest R&D centers in the European steel sector, where it carries out technological developments for the optimisation of products and processes.

In 2018 Sidenor posted revenues of 898 million euros and an EBITDA of 90 million and its workforce was made up of 2,376 employees.