The Global Mid-Market Specialist
Madrid – Alantra, an independent global investment banking and asset management firm, has acted as sole Coordinator and Bookrunner on the first issuance of a €100m Bond Programme for ULMA, a business group of 8 cooperatives based in Oñati (Spain).
With over 54 years of experience and more than 5,200 employees, ULMA Group is an industrial group which operates in 9 sectors: Formwork and scaffolding, packaging machinery, oil & gas accessories, material handling, conveyor components, construction solutions, forklift trucks and greenhouses. The group reached €865m of sales in 2018, with 74% of sales generated in international markets (Europe, USA and LATAM).
This is the first bond issued for a Cooperative group of companies in Spain with the longest tenor obtained in a Senior Unsecured corporate bond (12 years). Also, it is the lowest coupon (2.25% fixed) issued for a non-rated company. The transaction has been fully subscribed by international insurance companies, with a buy & hold strategy. This is the 7th Bond Deal executed by Alantra in the Spanish market.
We use our own and third-party cookies to improve our services and show you advertising related to your preferences by analyzing your browsing habits. If you go on surfing, we will consider you accepting its use. You can change the settings or get more information here.