Press Release

MARF registers two comercial paper programmes by ADVEO and MASMOVIL

Adveo’s Programme allows a maximum amount of €50 million and Másmovil’s of €30 million 

21 September, 2016

The Mercado Alternativo de Renta Fija (MARF) has registered a Commercial Paper Programme by Adveo Group International with a maximum amount of €50 million in one year and another by Másmovil, which will allow the company to issue CPs over the next 12 months and raise an outstanding amount of up to €30 million in short-term financing. 

The individual issues made under the Programme launched by Adveo will have a term of between 3 working days and 731 calendar days (2 years at maturity), and their individual nominal value will be €100,000.

Banco Sabadell is the Programme’s Arranger. Banco Sabadell, Banco Santander and Bankia will act as Placement Entities and the Registered Advisor for the Programme is PKF Attest. Adveo has received legal advice from J&A Garrigues for the registration of the Programme.

The activity carried out by Adveo includes the wholesale distribution of office and educational supplies (desktop items, ink and toner, general purpose and cleaning products, furniture, etc.) and operates a logistics network comprising ten centers located in Spain, France, Germany, Italy and Belgium.

Másmovil’s Programme

The Commercial Paper Programme launched by Másmovil, which is part of its financing sources diversification process, will allow this company to issue individual commercial paper instruments with nominal amounts of €100,000 and maturities of up to 2 years. 

Másmovil has already launched two issues, a 5-year bond issue in 2015, with a value of €27 million and a project-bond issue last July to the value of €30 million.

Beka Finance and Intermoney Valores are acting as Placement Entities. Intermoney is also acting as Registered Advisor of Másmovil in MARF and law firms Evergreen Legal and Cuatrecasas, Gonçalves Pereira have respectively advised the Company and the placement entities.

Másmovil currently has BB rating, with stable outlook, by Axesor.

Másmovil is an integral operator that provides telecommunication services (fixed and mobile telephony, broadband, data-centers and value-added services) in three business areas, residential, companies and other operators and is the result of the integration of different telecom operators in 2014 and 2015; in September 2016 it received approval by the regulator of the Spanish telecommunications sector– CNMC- for the acquisition of Pepephone and Yoigo.

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