MARF registers a new Commercial Paper Programme from Pamesa for 150 million euros

BME's Fixed Income Market, MARF, today admitted Pamesa Grupo Empresarial's new Commercial Paper (CP) programme for 150 million euros. It is the first one to be registered by the company on MARF and will enable it to finance itself by accessing qualified investors to diversify its financing sources. The CPs to be issued under the programme will have maturities of between three days and a maximum of two years and will feature a nominal amount per unit of 100,000 euros.

Banca March is participating as Sole Arranger, Registered Advisor and Placement Entity under the programme. Banca March itself will act as Payment Agent for the issues.

J&A Garrigues has provided legal advice to Pamesa in connection with the registration of the Programme.

Pamesa Grupo Empresarial is an industrial group dedicated to the design, manufacture, distribution and marketing of ceramic products. The company’ origins date back to 1972 in Castellón and it currently forms an industrial group that develops its activities mainly in three areas: (i) the production and commercialisation of ceramic products; (ii) the commercialisation of energy products; and (iii) the sale of raw materials. It has a production capacity of 120 million m2 of ceramics per year, making it the leading European ceramics producer and the fifth largest worldwide. The company’s range of products are marketed under six different commercial brands: Pamesa, Geotiles, Ecoceramic, TAU, Navarti and Prismacer. Pamesa has a broad international presence in more than 150 countries, where it has around 11,000 customers (4,000 national and 7,000 international).

In 2021 the company had a turnover of 1.2 billion euros and an EBITDA of 151 million euros.