Here’s the translation to American English:
ULMA Inversiones, Cooperative Society, has successfully completed a new bond issuance in the fixed income market of BME MARF, totaling 20 million euros. This issuance will have a term of 14 years, with a maturity date set for September 25, 2039, and includes partial amortizations starting in September 2035. The bonds feature an annual coupon of 4.57%, payable semi-annually, and have a nominal value of 100,000 euros. Additionally, they are backed by the personal guarantee of the nine cooperatives that are part of the ULMA Group.
This move is not unprecedented for ULMA, which has previously accessed the MARF. In 2017, the cooperative launched its first promissory note program totaling 50 million euros, and in 2019, it conducted its initial bond issuance, also for 50 million euros. For this recent issuance, Banca March plays the role of Registered Advisor and Paying Agent, while the issuance has been fully subscribed by PGIM Private Capital Limited (PRICOA).
ULMA’s legal advice has been provided by J&A Garrigues for matters related to Spanish regulations, while Gómez Acebo & Pombo Abogados has assisted PRICOA under UK legislation.
ULMA Inversiones is a secondary cooperative that is part of the ULMA Group, one of the leading industrial cooperative conglomerates in Spain. With a presence in 81 countries, including the United States, Brazil, and various European nations, the group comprises nine businesses focused on sectors such as construction, packaging, and drainage systems, among others. Currently, ULMA employs approximately 5,800 professionals.
In the past year, ULMA Construcción, ULMA Packaging, and ULMA Forged Solutions generated nearly 80% of the group’s total revenue, which reached 1.151 billion euros, demonstrating growth in most of its business lines. Additionally, the ULMA Group reported an EBITDA of 225.6 million euros, highlighting a strong financial performance.
via: MiMub in Spanish
