MARF, BME's Fixed Income Market, today admitted a new 30-million-euro Green Commercial Paper Programme from Feníe Energía. This new programme will allow Feníe Energía to diversify and expand its financing sources by tapping into the fixed income markets and placing Commercial Paper (CP) issues with maturities of up to two years.
The funds will be used to finance or refinance all or part of existing or future renewable energy and energy efficiency projects. The CPs issued under the Programme will be considered green instruments, in accordance with the Green Bond Principles (GBP) of the International Capital Market Association - ICMA. To this end, Feníe Energía has obtained a second opinion from Ethifinance confirming that the Programme is aligned with the four fundamental principles that make up the GBP.
Bestinver Securities participates as Global Coordinator and is the Placement Entity together with Renta 4 Banco. Bestinver Securities will also be Feníe Energía's Registered Advisor in MARF.
Law firm Gómez-Acebo & Pombo Abogados has provided legal advice to the new issuer in MARF in connection with the registration of the Commercial Paper Programme.
EthiFinance Ratings has assigned a rating of BB- with a stable trend to Feníe Energía.
Feníe Energía operates in the Spanish energy sector. It focuses its business on the sale of 100% green energy and has two wind farms with an installed capacity of 18.9 megawatts, in addition to other ancillary services related to renewable energies. Its origins lie in the Federación Nacional de Empresarios de Instalaciones de España (FENIE), who founded Feníe Energía in 2010 to provide, among others, marketing services for all types of energy products, carry out and implement programmes to manage the demand for electricity and gas and develop energy services related to improving energy efficiency. The company currently has 3,200 shareholders, who, in turn, make up a commercial network that after 12 years has established itself as the largest network of experts in energy efficiency in Spain.
In 2021 Feníe Energía reported a consolidated turnover of 606.3 million euros and an EBITDA of 6.8 million euros.