Press Release

MARF registers a new Squirrel Media bond program for 22 million euros

13 November, 2023

BME's fixed income market, MARF, has admitted to trading a new Squirrel Media bond program for a maximum amount of 22 million euros. Through this new financing tool, Squirrel will be able to issue bonds over the next 12 months with a maximum term of 5 years from the issue date, with fixed or variable interest rates linked to the evolution of money market indexes and guaranteed by various companies belonging to the Squirrel Group.

Andersen Tax & Legal España has participated as Registered Advisor and Legal Advisor in the programme. Link Securities will be the Placement Entity. GVC Gaesco will be the Paying Agent for the issues. Andersen Tax & Legal España has been the legal advisor in the registration of the new program.

The company has a BBB- long-term rating and the issues to be made will have a BBB rating, in both cases granted by EthiFinance Ratings.

Squirrel Media is a business group that operates within the technological and entertainment sector, in which it focuses its activity through four main business areas: (i) advertising, where it has two advertising agencies that mainly develop, among other activities, marketing strategies for large clients as well as media advertising, (ii) content, with the production and distribution of audiovisual content that is also acquired from large independent production companies for subsequent exploitation in different audiovisual windows (cinemas, DVD, VOD or TV), iii) Media, in which it has several free-to-air TV channels (it is the third largest private free-to-air TV operator in Spain) as well as on pay TV platforms, and iv) technology (TMT), with broadcasting services, live broadcasting of events, two teleports and technological support to the group. Since 2020, with the integration of the Vértice 360º group, the company has been implementing a new approach to its business model, in which it is developing a strategy of expansion towards a more operationally and geographically diversified activity.

Squirrel Media closed 2022 with consolidated revenues of EUR 80 million and EBITDA of EUR 13.5 million. The company is listed on the Spanish stock exchange and has an average workforce of 177 employees.

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