MARF, BME’s Fixed Income market, today admitted a new 150 million euro Commercial Paper (CP) Programme to trading from Network Steel Resources. This Programme will allow the company to flexibly place CPs among qualified investors with maturities between 3 days and 2 years and nominal per-unit values of 100,000 euros.
Banco Santander acts as the Programme’s Global Coordinator. The Placement Entities for the CPs will be Banco Santander and Ahorro Corporación Financiera. Deloitte Financial Advisory is the Issuer's Registered Advisor and the legal advisor in the Programme is law firm J&A Garrigues.
Network Steel Resources is the parent company of a Group of enterprises operating in the import, production, cutting and transformation of flat steel products. It began operations in 2002 and is currently structured into two business segments directly related to each other: the trading area, covering the company’s import activities, mainly from non-EU countries, with offices in Spain, Switzerland, China and Morocco, and the industrial area, in which such productive activities as the production of hot rolled steel coils, plating, etc., are grouped, with four production plants in Spain and several service centres in Spain and Portugal.
The Network Steel Resources Group posted total consolidated revenues of 619.9 million euros in 2019 and EBITDA of 25.1 million euros.