Cox registers a new 50 million Green Commercial Paper Programme in MARF

Cox, through its parent company Cox ABG Group, has registered a new Green Commercial Paper Programme on the Spanish fixed income market of BME, MARF, for an amount of €50 million. The issues to be made under the programme will have unit denominations of EUR 100,000 and maturities of up to 2 years.

The notes to be issued under this programme will qualify as a green instruments under the “Cox ABG Group Green Funding Framework 2024”, under which the company may issue bonds and CPs in accordance with the International Capital Markets Association's (ICMA) Green Bond Principles (GBPs). To this end, on 30 July, it obtained an expert opinion, Second Party Opinion, issued by SERFIEX, confirming that the Green Funding Framework is aligned with the four core principles that make up the GBPs.

Banco Sabadell is the Registered Advisor to the Programme and Banco Sabadell, together with BEKA Finance will participate as Placement Entities.

Ontier España has acted as legal advisor in the registration.

Cox is a vertically and horizontally integrated water and energy utility. The company formally commenced operations in early 2023 with the acquisition by Cox Energy of several production units of Abengoa. It is currently a world leader in infrastructures and efficient management of water resources and specialises in desalination, water reuse and treatment technologies, as well as in the generation and transmission of renewable energy, sectors in which its main activity is the execution of turnkey projects (EPC: engineering, procurement and construction). Its portfolio offers services throughout the entire value chain and, through its various divisions, takes advantage of the synergies generated by its complementary capabilities to maximise value creation.  It has a presence in Spain, the Middle East, Latin America and Africa.

Cox has a team of more than 6,200 people, its own machinery fleet of more than 1,200 pieces of equipment and a wide range of classifications for the construction of works and the provision of services. Cox ABG Group has been listed on the stock exchange since November this year.