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14-JUNE-2021

MARF registers GME’s first Commercial Paper Programme, worth 50 million euros

BME’s Fixed Income Market, MARF, has registered the first Commercial Paper (CP) Programme from García Munté Energía (GME). With this debut on MARF, GME will be able to access new qualified investors to diversify its financing sources and place CPs up to an outstanding balance of 50 million euros.

Banca March is acting as Collaborating Entity, Paying Agent and Registered Advisor under the Programme, and will be responsible for distributing the various CPs to be issued over the coming year.

Cuatrecasas has advised the issuer in connection with the legal aspects of the Programme’s registration.

García Munté Energía is a family business group founded in 1922, whose main business lines are the trading and distribution of solid fuels, where it is the leading operator in Spain, Portugal and Morocco.  GME manages the logistics of more than seven million tonnes of energy raw materials, such as petcoke, metallurgical coke, thermal coal and anthracite, used in the cement, chemical and metallurgical industries. It also operates in such products as the biomass obtained from forestry and agricultural waste.

García Munté Energía has focused on boosting agility and security in the supply of raw materials, minimising costs and looking for the sustainability of its facilities. This is why it invest in infrastructures that allow it to be closer to its customers, such as port terminals and warehouses. 

The GME Group is currently present in 8 countries and plans to open subsidiaries in Italy and Tunisia in the near future. In 2019, the company posted a turnover of 649 million euros and an EBITDA of 21 million euros.