Greening has incorporated a new Commercial Paper program in BME’s Alternative Fixed Income Market (MARF) for a maximum outstanding amount of 20 million Euros. The program will allow the company to access qualified investors to diversify financial resources in the short term, a greater range of financing sources and management optimization of their debt in terms of costs and tenors. The CP programme will allow the Company to issue debt with maturities of up to two years over the next 12 months.
The notes to be issued under this programme will qualify as green instruments under the Company’s “Green Financing Framework 2023” in accordance with ICMA’s Green Loan Principles. SERFIEX has issued an SPO, confirming that the Framework is aligned with the Green Bond Principles and the Green Loan Principles.
Greening is an international company specialised in the design, development, construction and maintenance of energy facilities. The company has evolved and grown to become multidisciplinary, being able to offer a comprehensive service in three lines of activity: Generation, Storage and Energy Efficiency.
EthiFinance has granted the company a long-term rating of BB-.
The Group expects for FY2022 to have consolidated revenues of over 43,81 Euro million and an EBITDA of 3,33 Euro million. The Group is listed on BME Growth since April 2023.
Commercial Papers are an efficient source of funding.
Commercial paper programmes 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 3 days to 24 months for programmes and from 1 to 364 days for ECP (European Commercial Paper Programmes) and up to 36 months for 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)
