Aldesa renews its 100-million-euro Promissory Note Issuance Program in the Alternative Fixed-Income Market

Aldesa renews its Promissory Note Issuance Program in the Alternative Fixed-Income Market (MARF), with a maximum outstanding balance of 100 million euros. This renewal responds to the good reception of the program issued in 2020 and consolidates the company’s strategy of diversifying its sources of financing and its short-term financial lines, by having access to a broad base of international institutional investors.

The actors in this renewal of Aldesa’s Promissory Note Issuance Program include Deloitte and Banco Santander, Registered Advisor and Arranger, respectively. The latter, together with Beka Finance, Bestinver and PKF, will also assume the role of Dealer and will therefore be in charge of distributing the promissory note issues among institutional investors. The company was assisted by the international legal services firm, J&A Garrigues, as the legal advisor for the program.

On the other hand, Aldesa has been present in the MARF since 2015 and today is included among the 114 issuers of this market, created and managed by BME, promoting the financing of medium-sized companies through the issuance of Fixed Income securities.

Aldesa, with more than 50 years of experience in civil works in Spain, joined one of the largest construction groups in the world, China Railway Construction Corporation (CRCC), in May 2020. Being part of a conglomerate with annual revenues of around 140,000 million dollars and a Moody’s A3 rating has made it easier for it to opt for larger projects as a result of its financial strengthening.

Over  144.4 million euros in the railway sector in the last quarter of the year

Aldesa closes the last quarter of the year with two important contracts in the railway sector whose combined value exceeds 144.4 million euros. It has been awarded, for 74.6 million euros, the Bratislava tramway extension project in Slovakia and, for another 69.8 million euros, it will undertake the reconstruction of 50 kilometers of railway line no. 38 Ełk – Korsze, in Poland. The base contract for this project could also be increased to 144.2 million euros by incorporating two extension options at the customer’s request.