Saba Granted €465 Mn Loan

22/10/2014 – Expansion

Saba has received a loan amounting to €465 million for refinancing the corporate debt of its parking branch from nine banks. The operation was coordinated by CaixaBank and Santander, but also BNP, Sabadell, Société Générale and Popular took part in it.

The credit subsititutes and extends the one lent to the firm in 2011 when Saba got separated from Abertis. That loan was of €340 million.

The fresh equity not only does secure the assets inherited from Abertis but also the deals on Adif’s and La Caixa’s parking lots that totalled at €100 million.

Expected to reach maturity in 2021, the loan obtained by 1.24 percentage points better interest rate paid by Saba controlled by Criteria (a 50.1% stake), wit a differential of 2.75 points over the Euribor.

Additionally, Saba brings to the end financing which will allow it to manage 26 car parks in Barcelona until 2039. The company needs €232 million for that operation.

 

Original article: Expansión (by Artur Zanón)

Translation: AURA REE

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