Global Dominion Access has registered a new Commercial Paper Programme in MARF. With this new financing tool the company will have a maximum outstanding balance over the next 12 months of up to 75 million euros and can issue commercial paper with amortisation terms of between three days and 24 months.
Bankia, Banco Santander and Norbolsa act as Co-Managers and Placement Entities of the Programme. PKF Attest is Dominion’s Registered Advisor in MARF and law firm GBP-Legal has provided legal advice to the issuer on launching the programme.
Global Dominion Access was incorporated in 1999 and over its 20 years of history has become a major provider of multi-technology services and specialised engineering solutions for the telecommunications sectors, in industrial facilities (high structures, assemblies of pipelines, gas and combustion systems and coatings) and in the field of wind and photovoltaic renewable energies. It has presence in 38 countries. Europe accounts for 60% of its sales, America for 29% and Asia and Oceania, for the remaining 11%.
In 2018 Dominion reported a consolidated turnover of 1.08 billion euros and an EBITDA of 72.4 million. The company has been listed on the stock exchange since 2016 and is an IBEX Small Cap index constituent.
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, that has an annual validity (renewable) and a predetermined maximum outstanding size. Notes under a CP programme may be issued at a discount or at a premium, they may bear fixed or floating rate interest. Although CPs, most usually, carry an implicit coupon, they are issued at discount and mature at par (100%)
Maturity of Notes ranges from 3 days to 24 months for Pagarés Programmes and from 1 to 364 days for ECP (European Commercial Paper Programmes).
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)