Press Release

MARF admits a new 30-million-euro Commercial Paper Programme from Agotzaina

28 December, 2022

BME's Fixed Income Market, MARF, today admitted Agotzaina's new 30-million-euro Commercial Paper Programme to trading. With this programme, the company initiates its issuance in the fixed income markets through the MARF to diversify its sources of financing and access new investors. The notes under the programme have a nominal unit amount of 100,000 euros and will have a maximum maturity of two years.

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

J&A Garrigues has provided legal advice to the issuer in the registration of the programme.

Agotzania is a global company of the poultry industry of Navarrese origin whose main activity is the  commercialization of all types of egg products and chicken meat, and the vertical integration that this industry entails (mother hens, incubators, pasteurization factories, industrial pastry, omelette factory, slaughterhouse and chicken cutting room), which are used in the food industry for multiple applications, such as the preparation of pastries, custards, ice cream and sweets, ready meals and others. The company also has businesses lines dedicated to the commercialization of pork meat, fruit tree production and fruit sale. The group currently has more than 25 production units between farms, factories and work centres. Agotzaina operates under the commercial brand Bekoetxe, whose main customers are supermarkets, local shops, butchers, collectivities and catering services in general.

In 2021 Agotzaina obtained total sales in Spain, the European Union and the rest of the world of 299.8 million euros and an operating profit of 6.17 million euros.

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