October 8 (Renewables Now) - Spanish alternative fixed-income market MARF on Tuesday admitted to trading the first commercial paper programme issued by clean energy yieldco Atlantica Yield Plc (NASDAQ:AY).
Supported by its BB rating by both Standard & Poor’s and Fitch Ratings, Atlantica will be able to place up commercial paper for up to EUR 50 million (USD 54.9m) for a year. The notes will have maturities ranging between three days and 24 months, MARF said.
Spanish lender Bankinter SA (BME:BKT) acted as the sole lead arranger, placement entity and payment agent, while Madrid-based VGM Advisory is Atlantica’s registered advisor with MARF.
Atlantica Yield posted USD 859 million (EUR 782.3m) in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), including unconsolidated affiliates, and revenues of USD 1.04 billion in the fiscal year of 2018, MARF noted.
(EUR 1.0 = USD 1.10)