Spanish property firm Metrovacesa has said it is considering a capital increase as part of a debt refinancing agreement being negotiated with its creditor banks. 'The company confirms it is in talks with its creditor banks about various options, one of which is a possible capital hike,' the Madrid-based company said in a statement to the Spanish stock market regulator CNMV.
Spanish property firm Metrovacesa has said it is considering a capital increase as part of a debt refinancing agreement being negotiated with its creditor banks. 'The company confirms it is in talks with its creditor banks about various options, one of which is a possible capital hike,' the Madrid-based company said in a statement to the Spanish stock market regulator CNMV.
The company also said in its statement on Friday that it has yet to reach an agreement on the amount of the capital hike and the final terms of the refinancing.
Spanish paper Cinco Dias reported last week that Metrovacesa was studying a EUR 1.2 bn capital increase in a bid to refinance its nearly EUR 6 bn of debt.
Metrovacesa is also said to be in advanced negotiations to sell the Husa Princesa complex to the French fund Continental Property Investments, which is owned by businessman Boutros El Khoury. According to Cinco Dias, the acquisition will be completed in the next couple of weeks for a price of EUR 120 mln.
The transaction comprises the 275-room Husa Princesa and the Husa Moncloa hotels as well as a 5,000 m2 office and retail property.
