Press Release

MARF admits a new 200 million euro Commercial Paper Programme from securitisation fund Factor One

26 July, 2022

BME's Fixed Income Market, MARF, today admitted the Basic Information Document about Factor One’s Commercial Paper (CP) Securitisation Programme, a Securitisation Fund that will allow it to issue CPs up to 200 million euros. The Fund is managed by Intermoney Titulización, SGFT.

Currently, the outstanding balance of securitisation assets in MARF reaches 3.9 billion euros, representing 37% of the approximately 10.6 billion euros admitted to trading on the market, including CPs, bonds, project bonds, covered bonds and other types of securities.

Factor One, Fondo de Titulización is an open fund incorporated under Spanish law in which Petrofactor will act as transferor and whose assets will be made up of credit rights represented by invoices for the provision of fuel supply services. In accordance with the eligibility criteria established in the fund, the credit rights will be covered by an insurance policy taken out with Compagnie Francaise d'Assurance pour le Commerce Exterieur (COFACE), under the terms established in the insurance agreement and the issuance programme.

Intermoney Valores is participating as placement entity, while Intermoney Titulización will be the Registered Advisor in MARF. Banco Santander is acting as payment agent and accounts bank.

J&A Garrigues has provided legal advice to the management company in connection with the registration of the programme.

Petrofactor is a company whose purpose is to grant and provide short and long term financing to legal entities and entities of any nature through various financial instruments. The company's activity includes the intermediation in billing or any other type of commercial credits, as well as the sale of such credit rights to third parties, including securitisation funds or other vehicles of a similar nature.

Intermoney Titulización is a Securitisation Fund Management Company incorporated in 2003 and registered in the Special Registry of the Spanish securities market supervisor -CNMV. Throughout its history it has participated in more than 120 securitisation transactions for a total amount exceeding 100 billion euros.

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