Dutch company OCII advised by Cuatrecasas on MARF bond issuance

A multijurisdictional team from Cuatrecasas Gonçalves Pereira advised Dutch company OC International Investments (OCII) on the launch of a continued €80 million Fixed Income Programme on MARF, the Spanish alternative fixed income market.

A MARF statement said OCII was the first “foreign issuer to seek funding through MARF and the second to access finance via this market’s Fixed Income Programme”. 

The Fixed Income Programme will allow the company to issue bonds worth €80 million in the next 12 months, with fixed interest rates and maturities ranging between three and eight years. 

Cuatrecasas Gonçalves Pereira advised OCII on the Spanish and Portuguese law aspects of the programme.

The Cuatrecasas team included Madrid-based partners Jaime de la Torre and Andrés Sánchez, as well as Lisbon-based partners Diogo Ortigão Ramos and Gonçalo Bastos Lopes.

Loyens & Loeff advised OCII on Dutch law and Carey y Cia as advisor on Chilean law. Asset management firm N+1 and ASK (Advisory Services Kapital – Portugal) coordinated the structuring and design of the programme.

Axesor Ratings has assigned the issuer a BBB rating with a stable outlook.

OCII is owned by Portuguese parent company SOGEPOC and is part of the Portuguese food group Sugal, which specialises in the manufacturing of tomato concentrates and fruit pulp. In 2014, it was the world’s fourth largest producer of tomato paste in terms of processing capacity (more than 1.5 million tons per year), the biggest global producer of for peach pulp. It operates five industrial plants in Portugal, Spain and Chile and its main customers include Heinz, Unilever, Pepsico and RPB. In 2014, it posted consolidated sales of €214 million and EBITDA of €40 million.