Ecoener has established its first Green Commercial Paper Programme for a maximum amount of 50 million euros in BME’s Alternative Fixed Income Market (MARF), a program with which the company will be able to access qualified investors to diversify its financial resources in the short term, a greater range of financing sources and optimize the management of your debt in terms of costs and terms. The note program will allow you to issue debt with maturities of up to two years over the next 12 months.
Founded in 1988, Ecoener develops its business in the electricity sector. The company is dedicated to the development, construction and operation of electricity generation facilities from renewable energy sources. Ecoener’s main activities consist of energy sales and the provision of services with the purpose of satisfying the needs of its customers and generating value for all of the company’s stakeholders.
The company has 171 plants, 160MW and more than 100 employees. In addition, it is one of the few energy companies that produces both wind, hydraulic and solar energy while protecting the environment as a fundamental value of its activity. Ecoener is a leader in renewable energy. They installed the first photovoltaic plant in Spain with high-efficiency thin-film solar panels. Also, they were the first company in Spain to install Enercon E-70 wind technology in five wind farms.
Ecoener had a turnover of over 15,926 million euros in 2021 and an EBITDA of 7,278 million euros.
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: Ecoener (see the entire post here)