Global Dominion has renewed its €75 million, Commercial Paper programme on MARF, BME’s Fixed Income market. The programme will allow the Company to continue issuing short-term debt with maturities up to 24 months and diversifying its funding sources.
CaixaBank, Banco Santander and Norbolsa act as Co-Managers and Placement Entities of the Programme. PKF Attest continues as Dominion’s Registered Advisor in MARF, as well as law firm GBP-Legal as the legal advisor to the issuer.
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 over 35 countries. At year-end 2019, Europe and Africa accounted for 59% of its sales, America for 29% and Asia and Oceania, for the remaining 12%.
As of December 2019, Dominion reported a consolidated turnover of €1,149 million and an EBITDA of €103,7 million. The company has been listed on the stock exchange since 2016 and is an IBEX Small Cap index constituent.
Commercial Paper is 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: https://www.bmerf.es/esp/QueEs/MARF/MARFIncorporacionPagares.aspx (Only in Spanish)