Article taken from: Nueva Pescanova
•The Sustainability-Linked Promissory Note Program will be able to reach a total of 75 million euros.
Nueva Pescanova has launched its first Sustainability-Linked Promissory Note Program on BME’s Alternative Fixed Income Market (MARF), for up to 75 million euros, thus demonstrating its commitment to guaranteeing the social and environmental sustainability of all its activities, including its financial activities.
In May 2022, Nueva Pescanova published its Regulatory Framework of reference for Sustainability Linked Financing, in line with the Group’s sustainability program, “Pescanova Blue”, and a series of Sustainable Development Goals, which define indicators with a direct impact on traceable raw materials and crew and fair employment. The second party opinion certificate has been issued by the independent expert European Quality Assurance (EQA), a certification, inspection and verification body accredited by ENAC, after verifying adherence to the Sustainability Linked Bonds Principles.
The Nueva Pescanova Group launched in 2021 its first issue of promissory notes in the Fixed Income Market through a program that could reach a maximum outstanding balance of 50 million euros, thus diversifying its financing sources and at the same time providing flexible access to professional investors. By renewing the Promissory Note Program, which has now been granted Sustainability-Linked Financing status, the company will continue to issue short-term debt with maturities of up to 24 months.
The Nueva Pescanova Group achieved a turnover of 1,087 million euros in the financial year April 2021-March 2022, a figure that highlights the 21.4% increase in sales compared to the same period of the previous year, and a management EBITDA of 80 million euros, doubling the 39.5 million euros of 2021. Nueva Pescanova employs more than 10,000 workers worldwide and, in the last financial year, has carried out over 1,000 CSR actions in 18 countries on four continents.