Agreement With Bank on Deffered Payment of 510 Million Euros

GECINA, a French real estate company hold by Metrovacesa and Joaquín Rivero and Bautista Soler, has refinanced two credits valued at 510 million Euros. The agreement with its banking institution in the framework of refinancing its entire debt was made at the end of 2013. The loans expiring this and the next year have been prolonged for 6 years more.

What is more, Gecina has negotiated the commissions for three unused credit lines of 430 million Euros, which will help it to cut about a million down on its financial expenses and has already cancelled mortgages for 140 million Euros.

Source: Expansión