Press Release

MARF registers a new Commercial Paper Programme from Eroski for 100 million euros

6 June, 2024

The BME's fixed income market, MARF, has admitted to trading a Commercial Paper Programme of Eroski, Sociedad Cooperativa for an amount of 100 million euros. The commercial papers to be issued under the program will have unit amounts of 100,000 euros and maturities ranging from 3 days to a maximum of 2 years. With this new financing mechanism, Eroski diversifies its access to short-term capital markets.

Norbolsa participates as Registered Advisor and is the Arranger of the Program. In addition to Norbolsa itself, the Placement Entities will be Banco Bilbao Vizcaya Argentaria and Banca March.

Clifford Chance, S.L.P. has collaborated as legal advisor in the registration of the program.

Eroski was founded in 1969 as a cooperative society dedicated to operating in the consumer and food sector. It is currently the leading cooperative consumer goods and services retail group in Spain and is a leading operator in the regions of Galicia, the Basque Country, Navarra, Catalonia and the Balearic Islands. It has a network of more than 1,500 physical stores covering almost 1.2 million square metres of retail space, including more than 600 franchises, which enables it to maintain a wide and diversified national presence, and 9 online stores. 

Eroski's commercial activity in its physical stores is carried out through points of sale in supermarket format located in cities and urban areas, hypermarkets; larger stores, offering food and non-food products, including textiles, household electronics and electrical appliances, among others, and cash & carry stores, in self-service wholesale format serving commercial customers, caterers or institutional buyers.  In addition to the main food business, Eroski also operates in other areas not directly linked to the food sector, including 41 petrol stations and 66 sports equipment stores, within the framework of Forum Sport and Dooers, and 11 optics shops. By sales is one the man retail distributor in the north of Spain and the fourth at national level.

At the end of 2024 Eroski achieved a consolidated turnover of 5.188 million euros, with an EBITDA of 331 million. It currently has a workforce of 27.426 employees.

So far this year, the volume of issues incorporated into the MARF amount to 7.022 million euros, which represents an increase of 14,1% with respect to the same period of the previous year. The outstanding balance stands at 8.677 million, 3,2% higher than at the beginning of the year.

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