Aldesa renews its Programme of Promissory Notes on the Alternative Fixed Income Market (MARF), with a maximum outstanding balance of €100 million. This renewal responds to the positive reception of the programme issued in 2020 and consolidates the company’s strategy of diversifying its sources of financing and short-term credit lines by providing access to a broad base of international institutional investors.
The parties involved in this renewal of Aldesa’s Promissory Note Issuance Programme include, Deloitte and Banco Santander, Registered Advisor and Arranger, respectively. The latter, together with Beka Finance, Bestinver and PKF, also assumes the role of Dealer and will therefore be responsible for distributing the promissory note issues among institutional investors. The company has engaged the international legal services firm J&A Garrigues as legal advisor to the programme
Aldesa has been listed on the MARF since 2015 and is now one of 114 issuers on this market, which was created and is managed by BME to promote the financing of medium-sized companies through the issuance of fixed-income securities.
With more than 50 years of experience in civil engineering in Spain, Aldesa joined one of the world’s largest construction groups, China Railway Construction Corporation (CRCC), in May 2020. Being part of a conglomerate with annual revenues of around $140 billion and an A3 rating from Moody’s has made it easier for it to bid for larger projects thanks to its financial strength.
Over €144.4 million in the railway sector in the last quarter
Aldesa ends the last quarter of the year with two major contracts in the railway sector worth a combined total of over €144.4 million. It has been awarded the €74.6 million project to extend the Bratislava tramway in Slovakia and, for a further €69.8 million, will undertake the reconstruction of 50 kilometres of railway line no. 38 Ełk – Korsze in Poland. The base contract for this project could also be increased to €144.2 million by incorporating two extension options at the client’s request.
