EiDF –Energía, Innovación y Desarrollo Fotovoltaico– has established its first Green Commercial Paper programme in BME’s Alternative Fixed Income Market (MARF) for a maximum outstanding of 25 million euros. The company has structured the CPs to be issued under the Program to qualify as a green instrument in accordance with the Green Bond Principles which will allow them to flexibly access to qualified investors over the next twelve months and diversify its sources of financing. With the funds obtained, the company will finance the existing or future projects with which they expect to increase the share of renewable energies in the electricity pool.
EiDF is specialized in photovoltaic solar energy installations. The company aims to evolve into a complete vertical model incorporating into their business model the generation and commercialization of energy through the development, construction, and exploitation of solar photovoltaic plants. They want to develop their activity into the units of self-consumption, generation, EPC and commercialization. By doing so, they aim to offer a complete service to their clients in the energy field.
EiDF was founded in 2008, setting up their first self-consumption industrial installation in the year 2011 and having a national expansion in 2017. Nowadays, the company has presence all over Spain through an extensive sales network. With more than 12 years of experience in the industry, EiDF has a wide portfolio of self-consumption industrial photovoltaic projects with the aim of helping companies reduce their energetic consumption through a viable, cost-effective, and efficient savings alternative.
EiDF is listed on BME Growth and as of June 2021 it reported consolidated revenues of 10,1 million euros.
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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 with a predetermined maximum outstanding size, and that are renewable annually (or every 3 years for STEP label). CPs may be issued at a discount or at a premium, they may bear fixed or floating rate interest, although they most usually carry an implicit coupon.
Maturity of Notes ranges from 1 to 364 days for ECP (European Commercial Paper Programmes), up to 24 months for Spanish Pagarés and up to 36 months for Italian Cambiali Finanziaria.
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 here)
