Solaria Energía y Medio Ambiente has registered a new commercial paper programme in MARF. This Commercial Paper Programme enables Solaria to issue instruments with maturities up to two years and a maximum outstanding volume of 50 million euros.
Axesor granted the company a rating of BBB-, positive outlook.
Founded in 2002, the company is specialised in renewable energies, specifically in the implementation and development of solar photovoltaic technology. Currently the Group operates 14 photovoltaic farms. It has an international presence in Spain, Italy, Portugal, Greece, Uruguay, Mexico and Brazil.
As of 2018 Solaria had consolidated revenues of 42.7 million Euro and an EBITDA of 32.1 million Euro. Since 2007 it has been listed in the IBEX Small Cap Index.
______________________________________________________________________________________________
Commercial Papers are an efficient source of funding
Commercial Papers are short-term money-market securities used as a funding source by financial institutions, as well as governments, supranational agencies and mid and large corporations.
For corporate issuers, Commercial Papers are an extremely efficient funding source, that is complementary to banking facilities and credit lines. It is an efficient working capital solution via Debt Capital Markets.
Commercial Papers are issued under a shelf programme, that has an annual validity (renewable) and a predetermined maximum outstanding size. Notes under a CP programme may be issued at a discount or at a premium, they may bear fixed or floating rate interest. Although CPs, most usually, carry an implicit coupon, they are issued at discount and mature at par (100%)
Maturity of notes ranges from 3 days to 24 months for Pagarés Programmes and from 1 to 364 days for ECP (European Commercial Paper Programmes).
Commercial Papers are multi-currency instruments that can be issued in different currencies; predominantly in EUR, USD, CHF and GBP. They have a minimum denomination of €100K and are intended for wholesale institutional investors, both national and international.
Source: BME (see the entire post)
