Realia Business, the Spanish developer which raised EUR 783 mln in an initial public offering earlier this month, said it has obtained a EUR 1.63 bn syndicated loan to refinance its debt from a banking consortium with core shareholder Caja Madrid and Banco Espanol de Credito directing the financing.
Realia Business, the Spanish developer which raised EUR 783 mln in an initial public offering earlier this month, said it has obtained a EUR 1.63 bn syndicated loan to refinance its debt from a banking consortium with core shareholder Caja Madrid and Banco Espanol de Credito directing the financing.
Realia said the consortium includes 14 banks while the loan has a 10-year term. The loan will be directed for EUR 1.08 bn at Realia Patrimonio and for EUR 545 mln at SIIC de Paris, a French subsidiary of Realia.
Realia started trading at EUR 6.5 per share on 6 June, down about 20% from the potential price outlined in the first IPO notice. Realia, jointly owned by Spanish savings bank Caja Madrid and construction company FCC, saw its share price reduced from a range of EUR 7.90 - EUR 9.70 to the final EUR 6.50 a share.
