Reduction of corporate debt
Compliance with the debt reduction commitment, reducing the Group's total debt in 2024 by 20% and net debt by 62%.
The diversification of the sources of financing continued with the renewal of the promissory notes program in the MARF for a total amount of €75M
The diversification of the sources of financing continued with the renewal of the promissory notes program in the MARF for a total amount of €75M
Diversification in financing sources
A policy of diversification of financing sources has been developed since 2014. Grupo Ortiz made the first bond issue in 2014 in the Alternative Fixed Income Market (MARF) for the amount of €50 million, becoming the third largest issuer of bonds in that market.
The concession company Viario A-31, in which Grupo Ortiz has a stake, also joined MARF. This is the first Project Bond issue listed on MARF for €47 million.
In 2018, a second bond issue was made on the MARF for €50 million, maturing in 2023 and with an improvement of 175 basis points in the coupon with respect to the 2014 issue. This issue was amortized at maturity in October 2023.
In 2022, a promissory note program was issued in the MARF for a total amount of €75 million, which was renewed in 2023 and 2024.
The concession company Viario A-31, in which Grupo Ortiz has a stake, also joined MARF. This is the first Project Bond issue listed on MARF for €47 million.
In 2018, a second bond issue was made on the MARF for €50 million, maturing in 2023 and with an improvement of 175 basis points in the coupon with respect to the 2014 issue. This issue was amortized at maturity in October 2023.
In 2022, a promissory note program was issued in the MARF for a total amount of €75 million, which was renewed in 2023 and 2024.
Organizing corporate debt, syndicated plus bonds
Grupo Ortiz’s corporate debt comprises mainly 100 M€ in syndicated financing, ICO loans and a promissory note program in the MARF.
In 2020, the Group obtained financing through loans from the Spanish Instituto de Crédito Oficial (ICO), which provided a more efficient debt structure, replacing short-term debt with long-term debt and improving its conditions.
In 2021 the term of the ICO loans was extended to 6 years.
In 2020, the Group obtained financing through loans from the Spanish Instituto de Crédito Oficial (ICO), which provided a more efficient debt structure, replacing short-term debt with long-term debt and improving its conditions.
In 2021 the term of the ICO loans was extended to 6 years.
Rotation of mature assets
Grupo Ortiz has a mature asset turnover policy, which materialised since 2021 with the entry of the State Fund COFIDES in the concessions of Hospital de Bosa and Energía de Barranquilla, both in Colombia.
Likewise, in the property area during 2018 there was the entry of institutional investors and individual investors in GOP Properties Socimi, reducing Ortiz's shareholding to below 50%.
Likewise, in the property area during 2018 there was the entry of institutional investors and individual investors in GOP Properties Socimi, reducing Ortiz's shareholding to below 50%.
Responsible and sustainable growth
The solid growth of the Grupo Ortiz is based on its technical and financial solvency, its capacity to manage complex projects and the diversification of business and geographical areas.
Grupo Ortiz invests in impact projects that contribute to sustainable environmental and social development, providing added value to all the stakeholders with whom we are involved.
Grupo Ortiz invests in impact projects that contribute to sustainable environmental and social development, providing added value to all the stakeholders with whom we are involved.
