Sacyr refinances €355 million in corporate debt to reinforce its capital structure

  • The P3 company is supported by 14 banks to extend corporate debt maturity. 

  • The operation includes sustainability and work safety commitments during the life of the financing.

Sacyr has signed a syndicated loan with 14 banks to refinance €355 million of corporate debt.

This operation, which extends debt maturity, reinforces, and simplifies the company’s long-term capital structure in a complex moment, characterized by extreme volatility of the financial markets. 

The refinancing consists of two tranches: a five year tenor €280 million loan, and a three + 2 years tenor €75 million revolving credit facility, The loan funds will be mainly used to refinance liquidity lines raised by Grupo Sacyr during the pandemia in order to provide long-term financial flexibility to meet the company’s needs. 

Sustainability and safety commitments

Sacyr has assumed sustainability and safety commitments based on the definition of CO2 reduction indicators and the rate of labour accidents; failure to comply with these terms involves an slight adjustment on pricing. 

The operation was coordinated by Santander and Société Générale and has counted with thesupport of major banks as ICO, Deutsche Bank, BBVA, Caixabank, JP Morgan and Banco Sabadell which proves the financial sector’s confidence in the soundness of the 2021-2025 Strategic Plan.

This transaction is fully compliant with reduction compromise assumed by Sacyr in its Strategic Plan, which in March 2022 stood at €798 million.

This operation takes place merely weeks after Sacyr successfully exited from Repsol equity, which reinforces the company’s focal point on P3 projects, which are the core activity and driver for growth for the upcoming years.

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