COMSA EMTE successfully completes its 930 million euros bank debt refinancing process

COMSA EMTE has successfully completed its debt restructuring process at the Group for a total of 930 million euros. The refinancing agreement provides for the granting of a three and a half year syndicated loan, until the end of 2016, involving a total of thirteen financial institutions. The operation, led by Santander, CaixaBanc, Bankia, Banc de Sabadell, BBVA, Popular and Catalunya Banc, also has the backing of Bankinter, BPI, Nova Galicia Banc, Unicaja, Deutsche Bank and BNP.

This process has been completed with a capital increase amounting to 40 million euros from COMSA EMTE shareholders in a clear commitment by these to reinforce the Group’s financial strength and promote the business project for the coming years.

The first time COMSA EMTE has engaged in debt refinancing will allow it to meet the requirements under its business plan in the medium term. The Group hopes to thereby strengthen its commitment to growth in international markets, where it is already involved in growing activity in the field of infrastructure and engineering.

In the coming years, the Group is committed to shedding diversified activities and focussing on its areas of expertise in infrastructure and engineering. In this respect, a divestment plan is expected that will also help to accelerate the reduction of the current level of debt.

In the refinancing operation, COMSA EMTE has had financial advice from PWC and legal advice from the law firm Cuatrecasas.

For Jorge Miarnau, president of COMSA EMTE, the completion of this transaction “demonstrates the confidence of financial institutions in the Group and allows us to continue on the path of internationalization and specialization as central parts of our strategic plan. To remain competitive it will be necessary to continue to pay close attention to the new changing market realities, with an efficient organization and able to adapt to supply in national and international markets”.

COMSA EMTE cierra con éxito el proceso de refinanciación de su deuda bancaria por valor de 930 M.€
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