Wednesday, September 28

Izertis incorporates a new promissory note program at MARF for 30 million euros

Izertis, a technology consultancy, has registered a program of promissory notes in the Alternative Fixed Income Market (MARF), with a Total maximum outstanding balance of € 30 million and valid until December 28, 2022.

The registered advisor designated for the transaction is Rent 4 Bank, SA and together with Bestinver SV, SA, as the placement entity of the promissory notes. Likewise, the legal advisor for the operation has been Ramón y Cajal Abogados, SLP

Likewise, it is reported that the rating agency Axesor Rating has made public the rating report in which Axesor Rating has endorsed the financial strength of Izertis with a BB rating. In addition, it is stated in the report that the trend of said rating improves, from stable to positive.

Grupo Izertis presents itself as a technology consultancy whose objective is to facilitate the digital transformation of organizations through innovation, technology, consulting services and outsourcing solutions. The group currently has offices in nine countries and carries out work in a total of 50 countries. Turnover reached 50.7 million euros in 2020 (+ 9.5% YoY) with an EBITDA of 5.3 million euros (EBITDA margin of 10.4%). The Adjusted NFD / EBITDA ratio stood at 2.3x (NFD / EBITDA of 1.8x). Izertis Group, listed on BME Growth, reached a capitalization of 173.2 million euros in December 2021 (12/15).

According to said report, for assigning the rating, “Axesor Rating has taken into account the financial projections provided by Grupo Izertis for the period 2021-2023. The company considers this information as internal and confidential so it has not been reflected in the report. “

They also add that “despite the fact that the generation of turnover and EBITDA is concentrated in the domestic market (81.6% and 62% of these figures respectively in 2020), the company’s business model is considered to be adequately diversified in terms of based on a portfolio of clients of high quality and recognition, the absence of dependence on any of these, and the favorable diversification by end-markets. “

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