Atlantica Yield has established a new Commercial Paper programme of €50 million in MARF, Spanish Fixed Income Market. The Programme will allow the company to issue short-term debt with maturities ranging between 3 days and 24 months.

Atlantica Yield is a listed sustainable infrastructure company, currently based in London. The company is focused on owning, managing and acquiring a well-diversified portfolio of assets, either in the power or environment sectors.

Currently, Atlantica Yield owns 25 assets, which are distributed in four business units; water assets, power generation, renewable energies and electric transport and transmission. Atlantica has presence in North and South America, as well as in certain markets of EMEA. The international expansion has allowed the company to diversify its portfolio geographically.

Atlantica has been listed since 2014 on NASDAQ Global Select Market and was granted by Standard & Poor’s a rating of BB with positive outlook and BB by Fitch with stable outlook.

As of December 2018, Atlantica reported 1.044 million dollars of total revenues and an adjusted EBITDA of 859 million which includes non-consolidated societies.

______________________________________________________________________________________________

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: See the entire post