6 November 2019 – Merlin Properties has extended a €129.10 million loan to the San José construction group, part of a recent transaction which saw the Spanish socimi acquire a 14.4% stake in Operation Chamartín. The socimi agreed to pay €168 million as well as grant the loan to San José.
The loan is structured into two tranches, the first, worth 86.39 million euros, has a 20-year maturity and an interest rate of 2%.
The second, €42.72-million tranche, also pays 2%. Merlin structured the loan as a cash deposit to guarantee working capital financing that San José has until October 31. The second tranche will mature on December 2.
Original Story: Expansión
Adaptation/Translation: Richard D. K. Turner