For a maximum outstanding volume of 50 million euros
• It is the fourth operation registered by Grupo Solaria with this BME market
MARF, BME’s Fixed Income market, has admitted to trading a new Commercial Paper Programme issued by Solaria Energía y Medio Ambiente, through which Solaria enters the market for the first time through the Group’s parent company and diversifies its short-term financing sources.
In 2016 and 2017 Solaria - via its subsidiaries Globasol, Puertollano 6 and Casiopea - registered three long-term project bonds with MARF for the refinancing of several of the photovoltaic parks operated by the company. Now this Commercial Paper Programme enables it to issue instruments with maturities up to two years and a maximum outstanding volume of 50 million euros.
Ahorro Corporación Financiera and Renta Markets participate in the Programme as Placement Entities and Co-Lead Managers, while GVC Gaesco Beka will be Solaria’s Registered Advisor with MARF. Cuatrecasas Gonçalves Pereira has advised the issuer on the legal matters affecting the launch of the new Programme in MARF and its registration.
Solaria Energía y Medio Ambiente has a BBB- (positive outlook ) rating by Axesor Rating.
Since its foundation in 2002, Solaria Energía y Medio Ambiente has specialised in the renewable energy sector, specifically in the implementation and development of solar photovoltaic technology. Grupo Solaria currently manages and operates 14 photovoltaic plants with a total generation capacity of 75 MW and has a presence in Spain, Italy, Portugal, Greece, Uruguay, Mexico and Brazil.
At the end of December 2018, Solaria Energía y Medio Ambiente reported consolidated revenues of 42.7 million euros, EBITDA of 32.1 million and a net profit of 21.3 million euros. Solaria Energía y Medio Ambiente has been listed on the stock exchange since 2007 and is currently part of the IBEX Small Cap index.