Grupo Ortiz launches a second bond issue on MARF

• Through this new 50 million euro operation, with a 5.25% coupon and maturity in 2023, the company refinances the issue launched in 2014

Ortiz Construcciones y Proyectos has launched a 50 million-euro bond issue, which has been admitted to trading today on MARF, the corporates financing platform started by BME in 2013. This issue, which has been distributed among qualified investors, has a nominal amount per unit of 100,000 euros, 5.25% coupon and maturity in October 2023.

The operation is part of the refinancing process of the bond launched by the company in July 2014, with a value of 50 million euros, a 7% interest rate and maturity in July 2019. Through this new transaction the company reduces the interest rate of its financing in the market and extends the term. Grupo Ortiz was the third company to issue on MARF.

Banco Santander has acted as Global Coordinator of the new issue. Banco Santander and Ahorro Corporación Financiera have participated as Placement Entities, and Banco Sabadell as Co-Lead Manager. Grupo Ortiz’s Registered Advisor is Deloitte Financial Advisory. JA Garrigues has legally advised the company, while CMS Albiñana & Suárez de Lezo has been the legal adviser of the Global Coordinator and the Placement Entities.

The issuer has a BB + rating, stable outlook, granted by the rating agency Axesor Rating.

Grupo Ortiz is structured into five business areas: concessions, energy, construction, maintenance services and the property division, where the SOCIMI Grupo Ortiz Properties - listed on MAB since July 2017 - operates. It has presence in 15 countries. In 2017 its revenues were 429.2 million euros (54% generated abroad), with a consolidated EBITDA of 47.3 million euros.