MARF registers a commercial paper programme by Volotea

• With a maximum outstanding amount of €20 million
• Commercial paper programmes provide solutions for managing issuers' own working capital requirements
• At present there are 24 companies, from 11 economic sectors, with commercial paper programmes on MARF

Today MARF has registered a commercial paper programme by Volotea for a maximum outstanding amount of €20 million. With Volotea there are now 24 companies from 11 economic sectors using the commercial paper formula to raise funding on MARF. This figure proves the depth of demand on the market and the versatility and useful features this product offers issuers.

The Sole Lead Arranger and placement entity of Volotea's commercial paper programme is Ahorro Corporación Financiera, which also acts as the Registered Advisor on MARF for the programme. The payment agent is Banco Cooperativo.

Volotea is a low-cost airline that specialises in connecting European small and medium-size cities through direct flights. Since it started operations in April 2012 it has transported 14 million passengers. In 2017 Volotea has operated over 44,000 flights from 9 operational bases in France, Italy and Spain. Volotea has 875 employees this year.