Susair refinances 355 million debt with a syndicated loan

Madrid, July 22 (.). – Sacyr (BME 🙂 has signed a syndicated loan with fourteen financial entities to refinance 355 million euros of corporate debt, mainly from banking lines that the group signed during the first months of the pandemic.

The operation extends debt maturities and simplifies the company’s long-term capital structure, at a time of high volatility in the financial markets.

Sayer, in a statement, indicated that this operation is in line with the commitment assumed in its strategic plan regarding corporate debt reduction, which amounted to €798 million as of March 2022.

The process takes place just a few weeks after the sale of Sacyr’s entire stake in Repsol (BME :), which supports the company’s focus on the franchise business, which is the center of its activity and vector of its growth for the coming years.

The refinancing includes two tranches, 280 million euros in the form of a loan and maturing in five years, and a second tranche of 75 million euros as a liquidity line and maturing in three years, with the possibility of extension for up to two additional years.

The operation was led by Santander (BME:) and Société Générale (EPA:) as coordinating banks, account managers and MLAs, and had the support of leading ICO banks, German Bank (ETR :), BBVA (BME :), CaixaBank (BME :), JP Morgan (NYSE :), Banco Sabadell (BME :)).