BME: MARF Registers A New Commercial Paper Programme Of Grupo Losán For 25 Million Euros
The BME's fixed income market, MARF, has admitted to trading a new Commercial Paper Programme of Losán Gestión Integral, the parent company of the Losán Group, for an outstanding balance of 25 million euros. The commercial paper to be issued will be irrevocably guaranteed on first demand by several of the companies that make up the Group. This is Losan's first commercial paper programme on the MARF and it is also the first time that the company has accessed the fixed income markets to finance itself.
Andersen Tax & Legal Iberia has participated as Registered Advisor to the Programme and Link Securities will be the Placement Agent. GVC Gaesco has been appointed as Paying Agent for the issues to be made, while PricewaterhouseCoopers Tax & Legal is the Legal Advisor to the issuer in this new financing.
Losán Gestión Integral has a BB- rating, stable trend, awarded by EthiFinance Ratings.
Grupo Losán is a business group established in 1964 in Galicia and which is made up of a group of multinational companies dedicated to the manufacture and marketing of wood-based products. Losán offers tailor-made solutions in melamine, natural wood veneers, panels and components, boards (chipboard, veneer and plywood), and flooring for the furniture, decoration and equipment industries. In addition, Grupo Losán has 6 plants dedicated to the generation of renewable energies, 4 cogeneration plants with natural gas and 2 biomass plants, and technical facilities for sawmilling, pallet block and digital printing. The company has production plants in Spain, the Netherlands, Romania and the United States and sells its products in 80 countries to more than 3,000 customers.
At the end of 2022, the group's turnover reached 344.6 million euros and an operating profit of 16.6 million euros. Grupo Losán currently has a workforce of more than 1,500 employees.