The Mercado Alternativo de Renta Fija (MARF) has registered a new commercial paper programme by Galletas Siro with a total value of €50 million, which brings the number of companies that have used this short –term financing formula to 25. The total balance of MARF’s commercial paper programmes since the launch of this businesses financing platform, in December 2013, amounts to €2.6 billion.
MARF’s commercial paper programmes have become a very useful tool for providing companies with short-term financing, while also adding financial flexibility and broadening their investor base.
Under this programme, Galletas Siro will be able to issue individual tranches of CPs for a year, with nominal values of €100,000 and maximum maturities of up to 24 months.
Banca March and Bankia act as the programme’s Dealers and will place the CPs issued under it. Banca March is also the Registered Advisor of Grupo Siro in MARF and Law Firm J&A Garrigues has assisted the company in the registration process.
Galletas Siro is the leading company of Siro industrial group, made up of companies dedicated to the manufacture and marketing of cereal-based food products; biscuits, pasta, sliced bread, pastries and breakfast cereals. With a total staff of 3,200 employees, it has 12 production centres in Castilla y León (Venta de Baños, Aguilar de Campoo, El Espinar, Toro y Medina del Campo); Valencia (Paterna y Navarrés) and in Andalucía (Jaén). In addition, it has the Grupo Siro Foundation, located in the Monastery of San Pelayo del Cerrato, in Palencia