Opdenergy Holding has established its first Green Commercial Paper programme in BME’s Alternative Fixed Income Market (MARF) for a maximum outstanding of 100 million euros and maturities up to 24 months, which will enable the company to issue short-term debt over the next 12 months. The aim of the company is to diversify its sources of financing, optimizing the average cost of its debt and supporting its position as a relevant player in the international renewable energy industry.

Opdenergy is a producer of renewable energy specialized in the production of solar photovoltaic and onshore wind energy. The company has an aggregated and long-term business model, oriented to the management of all stages of development, financing, construction, operation, and maintenance.

Opdenergy was founded in 2005 and in 2009 began its internationalization process. Nowadays, the company is present in Spain, Italy, United Kingdom, France and Poland, as well as in the United States, Chile and México. With more than 15 years of experience, Opdenergy has a wide portfolio of projects in different technologies with the aim of satisfying the energy needs of the markets with competitive and reliable solutions.

The green rating agency, Sustainalytics, has anticipated that the company “has the appropriate measures to identify, manage and mitigate the environmental and social risks associated with renewable energy projects”.

As of 2020, Opdenergy Holding has consolidated revenues of 139 million euros and reached an EBITDA of 12 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 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 Finanziarie.

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)