Ence has informed the Alternative Fixed-Income Market (MARF) of its successful fulfilment of the sustainability targets set out in the framework of its commercial paper programme.
This milestone has been verified through an independent review report issued by G-Advisory. The validation reinforces the credibility of Ence’s sustainable financing approach and consolidates its commitment to ESG (environmental, social and governance) principles.
Sustainable commercial paper programme
Ence registered its first sustainable commercial paper programme in October 2023 on the Alternative Fixed-Income Market (MARF), with a maximum limit of €200 million and a term of up to 24 months. This initiative enables the company to optimise the cost of working capital financing and diversify its short-term funding sources.
Banca March, Banco Sabadell, Renta 4 Banco and Kutxabank Investment were appointed as placement agents for the programme. Banca March also continues to serve as registered adviser and paying agent, with Uría Menéndez acting as legal adviser and G-Advisory responsible for issuing the Second-Party Opinion certifying the sustainability of the programme.
This financial instrument is tied to the achievement of specific sustainability indicators aligned with the Group’s strategic areas: pulp production, renewable energy generation, and sustainable forest management. All of this reflects Ence’s strong commitment to the circular bioeconomy and a just and responsible energy transition.
