Colonial in Search For 700 Million Euros to Refinance Debt

2/02/2014 – Expansion

Colonial has entrusted Crédit Agricole to coordinate a new sindicated loan of between 600 and 700 million Euros for payment of the part currently valid of about 1.800 million Euros, reaching maturity this year, according to information provided to Europa Press.

The financing deals are part of the terms and conditions list issued by the new investors (Grupo Villar Mir, MoraBanc and Grupo Santo Domingo) in order to conduct pledged capital injections of 500 million Euros in terms of capital extension.

In parralel, Colonial takes other measures to accomplish the recaptialization, like the sale of 20% of French branch Société Foncière Lyonnaise, the debt refinancing and the deconsolidation of Asentia.

Original article: Expansión

Translation: AURA REE