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Enagás Financiaciones, the subsidiary of the Enagás Group, has registered its Euro-Commercial Paper Programme in the fixed income market of BME, AIAF, with a total amount of 750 million euros. This program will allow the issuance of promissory notes with a nominal unit value of 100,000 euros, which will have maturities ranging from 3 to 364 days, and will be guaranteed by Enagás S.A. This initiative reflects a significant shift in the company’s issuance strategy, which had previously opted to register its ECP issuances on the Dublin Stock Exchange (Euronext Dublin).
With this action, the total of fixed income programs from Spanish issuers repatriated since 2020 rises to 46.55 billion euros. This move highlights the commitment of the Spanish market, BME, to recover corporate issuances that were previously conducted in other international markets.
The operation involves the participation of PKF Attest Capital Markets as Arranger, while Banca March, Banco Santander, Bred Banque Populaire, Crédit Agricole CIB, and Société Générale act as Dealers. CaixaBank will handle the Payment Agent functions related to the issued securities. In the legal realm, Allen Overy Shearman Sterling advises the issuer on Spanish and English law, while Linklaters provides advice to the Dealers under the same jurisdictions.
Enagás, with a credit rating of BBB+ and a stable outlook according to Fitch and Standard & Poor’s, establishes itself as a transmission system operator in Europe, backed by 50 years of experience in the operation and maintenance of energy infrastructure. The company manages over 12,000 kilometers of gas pipelines, three underground storage facilities, and eight regasification terminals across seven countries.
At the national level, Enagás plays the role of Technical Manager of the Gas System, and in accordance with Royal Decree Law 8/2023, has the capacity to operate as the Provisional Manager of the Hydrogen Transport Network and develop the H2med corridor, a national network dedicated to hydrogen. The company is committed to the energy transition, aiming to achieve Net Zero by 2040 and promoting decarbonization and the development of renewable gases, particularly hydrogen.
Since its listing on the Spanish Stock Exchange in 2002 and as part of the IBEX 35® index, Enagás reported consolidated revenue of 905.5 million euros and an EBITDA of 760.7 million euros for the year ending 2024.
via: MiMub in Spanish
