Realia Refinances the €120M Debt Owed by its Property Development Arm

22 June 2018 – Eje Prime

Realia has today refinanced the debt owed by its property development arm, amounting to €120 million. The liability was due to mature on 30 June 2018, according to a statement filed by the real estate company, in which FCC and Carlos Slim hold stakes, with Spain’s National Securities and Exchange Commission (CNMV).

The new financing is due to mature on 31 December 2020. Realia has also indicated that “(the new financing) has been subscribed under competitive market conditions”. At the end of 2017, the company had gross bank debt amounting to €763 million, down by 10% compared to a year earlier.

Realia ended the year 2017 with a net profit of €30.5 million, 73.7% less than in 2016. The decrease was caused by the extraordinary results registered in 2016 due to discounts associated with another debt refinancing.

Original story: Eje Prime 

Translation: Carmel Drake

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