COFIDES has participated in the issuance of Grupo Pikolin’s Bond Program with €15.8 million from the Foreign Investment Fund (FIEX) to support its strategic growth plan.
Pikolin’s bond issuance amounts to €125 million and is structured in two tranches with maturities of five and nine years. This financing will enable the company to boost its organic and inorganic growth strategy and internationalization efforts to continue positioning itself as a leading company in the European sleep sector.
This issuance is part of a €150 million bond program linked to sustainability, incorporated into the Fixed Income Alternative Market (MARF) and tied to performance in key sustainability areas.
Since 2013, COFIDES has contributed to Grupo Pikolin’s international expansion through five operations, supporting the company in Malaysia, Brazil, and France.
Miguel Ángel Ladero, COFIDES’ Corporate Investment Director, stated that “for COFIDES, it is a priority to support Spanish companies committed to a growth model based on sustainability. We trust that this new bond program will facilitate their international expansion, incorporating a strong focus on sustainable development.”
Grupo Pikolin is implementing a European-wide Strategic Plan that entails a complete transformation of the company’s operational area, a transformation that is already clearly impacting EBITDA. Grupo Pikolin expects to close fiscal year 2025 with an EBITDA exceeding €50 million (compared to €25 million in 2022).
ABOUT GRUPO PIKOLIN
A multinational group dedicated to the production and sale of products for the sleep sector. It is the largest family-owned group and the second-largest operator in Europe. Headquartered in Zaragoza, Grupo Pikolin is a leader in the Iberian and French markets and has 10 production centers across Europe, Asia, and South America.
ABOUT COFIDES
COFIDES is a state-owned company that manages financial funds from the Spanish government as well as its own resources and those of third-party institutions with various objectives: internationalization of the Spanish economy, attraction of foreign investment to strategic sectors in Spain, promotion of impact economy in Spain, and contribution to the development of the countries where it invests. In addition to the State, which holds a majority stake, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
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