- The company registers a commercial paper programme for a maximum outstanding amount of €40 million
- It is the twenty-third commercial paper issuer since the start of MARF, in 2013 and the seventh so far this year
The Mercado Alternativo de Renta Fija (MARF) has registered a new Commercial Paper Programme by Tubos Reunidos for a maximum outstanding amount of €40 million. This brings to 23 the number of companies that have used this short-term financing formula since the creation of this market, in 2013. As is customary for this type of financial instruments, under the programme and for a year, the company will have the possibility of issuing individual tranches of commercial paper with minimum denominations of €100,000 and maturities of up to 24 months.
Banco Santander is Sole-Lead Arranger of the programme that will have as Placement Entities: Banco Santander, itself, as well as Banco Sabadell and Norbolsa. At the same time, Banco Santander has been designated as Paying Agent of the programme. Deloitte Advisory is the Registered Advisor of Tubos Reunidos and Lawyers Cuatrecasas, Gonçalves Pereira have legally advised the issuer during the Registration of the programme with MARF.
Tubos Reunidos is a company specialized in the manufacture of seamless steel tubular products, which distributes its production to customers in more than 100 countries. The production of Tubos Reunidos and its 12 subsidiaries is demanded by the power sector (both oil and gas as well as electric power generation) and the petrochemical industry, as well as machinery and special industrial applications. Its client portfolio includes the world’s major oil companies, engineering firms and capital goods manufacturers.
The Market Status informs through quick and easy-to-read notices on incidents affecting the Equity, Derivatives and Fixed Income markets as well as Indices and financial systems operated by BME.
If an issue occurs, the message "TRADING" will change to "MARKET ISSUE" to reflect that a market event has occurred. By clicking on the Issue of the published alert it will be possible to access the information and intraday updates associated with this incident, which will be published immediately.
Note: BME will use its discretion to assign the severity of an incident