Gas Natural SDG, S.A. obtained its first rating in February 1999. In October that same year, it formalised its first EMTN - Euro Medium Term Notes Programme. This programme enables Gas Natural Fenosa to issue bonds in the European market, with a public or private format and variable terms.
In March 2001, Gas Natural Fenosa increased its presence in the European capitals markets with an ECP -Euro Commercial Paper- programme, with short-term bonds worth 1,000 million euros.
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