PRESS RELEASE

MARF registers a new commercial paper programme by Logitravel

MARF, BME’s Fixed Income market, today admitted a new Commercial Paper (CP) Programme to trading by Tool Factory, the parent company of the Logitravel Group, for a maximum outstanding balance of 20 million euros. This Programme will allow the company to launch and place CPs in this BME Fixed Income market with maturities ranging between 3 days and 2 years and a nominal per-unit value of 100,000 euros.

Banca March acts as sole-lead arranger under Tool Factory’s Commercial Paper Programme and is also the issuers’ registered advisor. The legal advisor for the Programme is law firm J&A Garrigues.

Gonzalo Gómez Retuerto, General Manager of MARF, stated that “Commercial Paper Programmes provide a flexible framework that allows companies to access short-term financing as their issuance needs arise, for which they are a very practical tool for the daily financial management of companies”.

Tool Factory, together with its Logitravel subsidiaries, was born in 1997 as a Group specialising in the distribution of tourist services: holiday packages, room bookings, tickets, etc. It operates as an online travel agency for the retail and wholesale segments and as a service provider for tour operators. In addition to this, since 2017 Logitravel has operated a hotel chain made up of eight establishments which is owns or manages. The Group offers its services on five continents and has a direct presence in Spain, Portugal, Italy, Russia, United Kingdom, Tunisia, Dubai, Thailand, Mexico and Brazil.

Between January and September 2019 Logitravel reported consolidated sales of 594.2 million euros and an EBITDA of 14.2 million. The Group’s staff reaches around 1,000 employees on average.