MARF registers a new 250 million-euro Commercial Paper Programme from CAF

BME's Fixed Income Market, MARF, today registered a new Commercial Paper (CP) Programme from Construcciones y Auxiliar de Ferrocarriles (CAF) for a maximum outstanding balance of 250 million euros. With this debut on MARF, CAF will be able to place CPs over the next 12 months in a flexible manner, based on its needs, among qualified resident and non-resident investors and with maturity terms of up to 24 months.

Norbolsa will act as Arranger, while the Programme’s Dealers are Banco Sabadell, Banco Santander, PKF Attest Capital Markets and Norbolsa. Likewise, CAF’s Registered Advisor in MARF is also Norbolsa and the Payment Agent will be Banco Santander.

Clifford Chance has provided legal advice to the company regarding the Programme’s registration.

The CAF Group is an international market leader as a supplier of comprehensive transport systems, both in the railway (underground, trams, high speed, suburban, commuter, LRVs, locomotives) and buses (conventional, electric, CNG , hydrogen) segments. CAF offers a wide range of products and services at the forefront of technology in the field of sustainable mobility, as well as project management along all its stages: analysis and feasibility studies, engineering and system design, civil works, signaling, electrification, supply of rolling stock and system rehabilitation, operation and maintenance.

The CAF Group currently operates in more than 40 countries and has production plants in Spain, France, the United States, Brazil, Mexico, Poland and the United Kingdom, as well as a large number of subsidiaries throughout the world. The company is listed on the stock exchange and is an IBEX Medium Cap® Index constituent. In 2019 it reported consolidated revenues of 2.6 billion euros and its EBITDA was 244 million.