The Mercado Alternativo de Renta Fija (MARF) has registered a Commercial Paper Programme by Fluidra with a maximum outstanding amount of €50 million, which will allow the company to continue issuing these instruments over the next 12 months. The maturities of the CPs issued under the Programme will range between 3 days and 2 years and the individual nominal amount of the securities is €100,000.
This CP programme is the seventeenth registered in MARF, which in June - for the first time since it was launched in 2013 - has recorded an outstanding amount in excess of €1 billion.
Banca March and Banco Sabadell participate as Placement Entities. Banca March also acts as Registered Advisor to Fluidra and Banco Sabadell as Payments Agent for the Programme. Law firm Cuatrecasas, Gonçalves Pereira has legally advised the issuer on the process of registration with MARF.
Fluidra is the parent firm of a group of companies mainly concerned with the manufacture and marketing of specific products, accessories and machinery for residential, commercial or public swimming pools, irrigation, treatment and purification of water.
The Group operates in 45 countries through 150 offices and production centres and has a team of 4,300 people. Its functional structure is based on an integrated business model comprising R&D, manufacturing, logistics, sales network and engineering. It has been listed on the Spanish Stock Exchange since 2007.
The revenue of the Fluidra Group in 2016 reached €713.3 million and it has over 53,000 customers worldwide.