Spanish property company Realia said it is close to reaching an agreement with banks to refinance EUR 900 mln of debt facilities maturing this year. Chairman Ignacio Bayon told Spanish papers during a press conference in Madrid that he is confident that the refinancing will be signed soon, extending the loan to 2012. He added that the company, with total debt of EUR 2.3 bn, already has a deal on the negotiation table.
Spanish property company Realia said it is close to reaching an agreement with banks to refinance EUR 900 mln of debt facilities maturing this year. Chairman Ignacio Bayon told Spanish papers during a press conference in Madrid that he is confident that the refinancing will be signed soon, extending the loan to 2012. He added that the company, with total debt of EUR 2.3 bn, already has a deal on the negotiation table.
The company is also hoping to secure a new shareholder in its French property unit, SIIC de Paris, during the EUR 143 mln capital increase planned for this week.
Realia recently switched its business focus to the commercial property sector in a bid to boost profitability. The firm reduced its exposure to the residential segment from around 63% to 33% at present.
