The industrial cooperative group thus closes a financing round totalling €115 million in loans, which has been endorsed by the EIB, the ICO and the IVF.
The ULMA cooperative group strengthens its financial structure with a bond issue worth €20 million through the Alternative Fixed Income Market (MARF). With this operation, ULMA has completed a process of raising finance that began last July with the aim of meeting its investment plans for the coming years.
The diversified financing strategy designed by ULMA led it to become the first cooperative industrial group to issue listed debt through the Alternative Fixed Income Market (MARF) in 2017. Eight years later, ULMA is once again launching a new debt issue for €20 million over 12 years.
The issue, carried out through ULMA Inversiones, has been fully subscribed by Pricoa. Banca March participated in the operation as registered advisor and Garrigues as legal advisor.
ULMA has thus successfully completed a €115 million fundraising round aimed at boosting its growth and industrial modernisation plan. The operation was structured with the participation of the European Investment Bank (EIB), the Official Credit Institute (ICO) and the Basque Finance Institute (IVF).
These resources will enable the ULMA cooperative group to solidly implement its investment plan in the coming years and pursue a growth strategy based on technological innovation, internationalisation and sustainability.
The CEO of the ULMA Group, Iñaki Gabilondo, stressed that ‘the demands and trust placed in this process by institutions and investors highlight the strength and solvency of our social enterprise project. Their support provides strategic backing for our future challenges through a sustainable, innovative, committed and cooperative industrial model’.
ULMA is a cooperative industrial group that has invested more than €500 million over the last five years to modernise its facilities and processes, improve its production capacities and make progress in the areas of energy efficiency and decarbonisation.
This recent round of financing will enable ULMA to tackle its growth processes and accelerate key investments in sustainability, innovation, modernisation and international development. Among other projects, the cooperative group plans to undertake new implementations that will improve its production capabilities and continue to advance in the digitalisation of processes.