BME’s Fixed Income Market, MARF, has admitted to trading Vidrala’s first Commercial Paper (CP) programme. Through this continuous issuance programme the company will be able to place CPs flexibly over the next twelve months up to an outstanding balance of 100 million euros. The maturity dates of the CPs will range between 3 days and 2 years.
Norbolsa is Vidrala's Registered Advisor with MARF. Participating in the Programme as Collaborating Entities are Banco Santander, Bankinter and Norbolsa, which will distribute among institutional investors the different issues of CPs that are made. The issuer's legal adviser for this transaction has been law firm GBP-Legal.
Founded in 1965, Vidrala is a consumer packaging company concerned with the manufacturing and sale of glass containers for food and beverage products, complementing its offering with logistics services and packaging activities. The Group is one of the leading suppliers in Western Europe. Through its 9 factories it produces more than 8 billion bottles and jars per year, which are marketed to more than 1,600 customers, among which are large companies, multinational brand owners and national packaging companies. The concern for sustainability favours a greater use of glass within the economy. Vidrala posted total sales of 955.4 million euros in 2018 and operating income of 239.4 million euros. Vidrala has been listed on the stock exchange since 1985 and is an IBEX Medium Cap® index constituent.