TUBACEX has launched today an emission of promissory notes maturing in three months for a total of 15 million Euros and an annualized coupon of 0.85%, according to the company’s communication to the Spanish Securities Exchange Commission (CNMV).
This emission is part of the Promissory Note Emission Program updated by TUBACEX last May. This is the fourth emission registered within the Alternative Fixed-Income Market (MARF), following three emissions in 2014, and it is the first maturing in three months.
Emissions are launched via MARF, whereby Banca March acts as the Manager Entity and Sole Lead Arranger.
With this initiative, TUBACEX seeks to diversify its short-term financing sources beyond traditional banking.