24/06/2014 – La Información
SanJose group says the economic depression that especially hard hit the real estate sector will not allow the firm to pay-off the €1.18 billion debt before 22nd April 2015.
In fact, the construction company is still negotiating with its lenders on refinancing the total debt of €1.3 billion, assuring that over the past months it has registered “significant advance” in the process. Another argument is the fact that it still operates normally.
At the end of December, SanJose´s order backlog showed €2.98 billion, by around 75 % more than a year earlier. During the first quarter of this year, it has increased to €3.03 billion.
The debt is mostly due to the loans pleaded by SanJose for the purchase of Parquesol Inombiliaria and Projectos. Still, the company is of good cheer.
Original article: La Información
Translation: AURA REE