ULMA Inversiones, Sociedad Cooperativa has registered a new bond issue on BME's fixed income market, MARF, for €20 million. This new bond issue has a term of 14 years, with a final maturity date of 25 September 2039, with partial repayments starting in September 2035. It has an annual coupon of 4.57%, payable every six months, and a nominal value of €100,000 per unit. The bonds issued are backed by the personal guarantee of the nine cooperatives of the ULMA Group.
ULMA returns to the MARF after registering its first promissory note programme in 2017, for €50 million, and its inaugural bond issue in 2019, also for €50 million.
Banca March is participating as Registered Adviser and Paying Agent for the issue. The issue has been fully subscribed by PGIM Private Capital Limited (PRICOA).
J&A Garrigues advised ULMA in relation to Spanish law and Gómez Acebo & Pombo Abogados advised PRICOA under UK law.
ULMA Inversiones, Sociedad Cooperativa, is a second-degree cooperative society that forms part of the ULMA Group, which in turn is one of the largest industrial cooperative groups in Spain. ULMA is present in 81 countries (including the US, Canada, Brazil, Peru, Chile, Argentina, Mexico, France, Portugal, the United Arab Emirates, South Africa, Italy, Poland, Russia, Germany and Romania) and comprises nine businesses operating in the following areas: construction solutions, packaging machinery, smart warehouses, forging, prefabricated drainage and architectural systems, conveyor rollers, handling services, greenhouse manufacturing and embedded electronics. The Group employs around 5,800 professionals.
In 2024, ULMA Construcción, ULMA Packaging and ULMA Forged Solutions accounted for almost 80% of the group's total revenue. Last year, revenue increased in most business lines to a total of €1.151 billion. The ULMA Group also achieved EBITDA of €225.6 million.