OK Mobility Group has registered its first IOU program for a value of 80 million Euros on the Alternate Fixed-Income Market. This will allow the company to diversify its sources of funding, complement traditional banking debts and with this, optimize funding channels and make them more flexible.
As a new issuer on the Alternate Fixed-Income Market, the business group which is specialized in global mobility will be able to organize IOUs up to a maximum outstanding balance of up to 80 million Euros with expiry dates ranging between 3 days and 2 years.
Bankinter was the directing entity and payment agent for this operation and will be responsible for distributing the different IOU issues made over the next year alongside Banco Sabadell and Banco Finantia. Uría Menéndez Abogados, has been appointed as legal advisor and VGM Advisory acted as the Alternate Fixed-Income Market Nominated Advisor.
In 2021 the company forecasts that the EBITDA at the end of the tax year shall exceed 50 million, and the operating income (EBIT) shall exceed 35 million Euros. These figures clearly exceed those obtained in 2019, ranking the OK Mobility Group as one of the fastest-growing and most profitable companies in the sector.