BME’s Fixed Income Market, MARF, has admitted the first Commercial Paper (CP) Programme to trading from Ultracongelados Virto. This programme will allow the new issuer flexibly to access qualified investors to diversify its financing sources and place CPs up to a maximum outstanding balance of 50 million euros. The securities issued will have a nominal value per unit of 100,000 euros with maturity up to two years.
Banca March has been mandated by Ultracongelados Virto as Collaborating Entity, Payment Agent and Registered Advisor under the Programme, and will be in charge of distributing the various CPs that will be carried out over the next twelve months.
J&A Garrigues has provided legal advice to the issuer concerning the Programme’s registration.
Ultracongelados Virto is a family business food group whose origins are in the Spanish region of Navarra. Since its incorporation in 1984 it has been concerned with the production and distribution of fruit and vegetables and other frozen products. The company currently carries out its operations in Spain, France, Germany, the United Kingdom, the Netherlands, Poland, Portugal, the United States, Brazil and Chile, which makes it a leading company and an international benchmark.