FC Barcelona has agreed an €1.45 bn financing package, arranged by Goldman Sachs, to fund the club's Espai Barça development, including Spotify Camp Nou.
Mount Street said it had been appointed as creditors’ representative and agent on the financing package, representing the firm's largest single mandate win in 2023.
The Espai Barça project will transform the FC Barcelona facilities, substantially improving and expanding the club’s infrastructure. The project is anchored by the development of the Spotify Camp Nou, which will be significantly modernised, increasing the capacity to 105,000 spectators.
Mount Street said it had been appointed as creditors’ representative and agent on the financing package, representing the firm's largest single mandate win in 2023.
Paul Lloyd, CEO at Mount Street, commented: 'This is a significant mandate win for our business, and we are thrilled to be advising on FC Barcelona’s monumental Espai Barça project.
'As Mount Street’s largest single mandate win this year, this project is the latest endorsement of the depth and breadth of our comprehensive service offering.
'Mount Street will play a crucial multi-purpose role in this project, acting on behalf of numerous institutional investors as a Credit Representative and as an Agent on a loan which forms part of the financing.
'We are pleased that the unique combination of our differentiated capabilities within development finance and loan servicing set us apart and we look forward to working with the FC Barcelona team to bring what will undoubtedly be one of the world’s best sporting campuses to fruition.'
The €1.45bn financing package covers the full cost of the works for Espai Barça and fulfils the criteria to begin work on renovating Spotify Camp Nou. It includes around 20 investors and follows a progressive instalment pay schedule with a flexible structure including a grace period.
The club will begin repayment once the work has been completed, using income generated from Spotify Camp Nou which is forecasted to be around €247 mln per year.
