San José Stock Rebounds With Upcoming Debt Refinancing

30/12/2014 – Expansión

The San José group’s stocks are now among the winners of the Spanish Stock Exchange after the company notified the CNMV regarding its upcoming debt refinancing, envisioning its real estate business to remain in the hands of creditors.

The stocks of the group – whose debt amounts to 1.6 billion euros – rise firmly almost 6%, up to 0.73 euros, although they sporadically pick up to 10%.

The company has assured investors earlier today that it is “in the closing phase of its refinancing process” and that it will sign agreements with its creditors “during the day.”

San José added that as part of these agreements, they are considering to have creditors control the entire capital of San José Desarrollos Inmobiliarios “by converting part of their debt claims into stocks of the company.”

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Translation: Aura REE