spot_img
Saturday, December 3, 2022
spot_img

Ashurst assists Castellana Properties with debt refinancing

Ashurst Spain has counselled Castellana Properties Socimi, S.A. on the financing for an amount up to €185 million granted by Aareal Bank AG

-

Castellana Properties recently announced a financing agreement with Aareal Bank A.G. for an amount of 185 million euros and a 7-year term, which allows the listed company specialising in the retail sector to “improve its repayment schedule by lengthening the average maturity of the company’s debt from 3.5 years to 5 years.”

With this transaction, and as explained by the socimi in a statement, the syndicated loan linked to the portfolio of medium-sized parks and the loan for the Habaneras Shopping Centre (Alicante), as well as the financing of the second phase of the Pinatar Park Shopping Park (Murcia) are refinanced. In this way, Castellana Properties has secured new financing for 40% of its assets.

“We are very pleased to be able to announce such an important agreement for Castellana Properties, which demonstrates the support of financial institutions in our business model after the very positive results that support us,” said Debora Santamaría, CFO of Castellana Properties, who pointed out that the agreement “will allow us to continue with our firm commitment to active portfolio management, so that our shopping centres and parks remain at the forefront and offer the residents of each of the areas where they are located the best services”.

Ashurst advised Castellana Properties on this issue in order to: refinance the existing debt associated with the portfolio connected to medium-sized business parks, refinance the existing debt associated with Habaneras Commercial Centre, finance the construction of Phase II of the Pinatar Business Park (Murcia).

The law firm advised the company with a team led by Banking and Finance partner Jose Christian Bertram; along with Banking and Finance associates, Manuela Sanz and Rafael Serrano.

MOST READ NEWS

Cliford, A&O successfully represent DCN, BBVA on arbitration

Clifford Chance has advised Distrito Castellana Norte (DCN), the developer of the largest urban project in Europe ("Madrid Nuevo Norte", known for years as...

Law firm trio advises on EIB’s first euro-denominated digital bond on a private blockchain

The consortium consists of Goldman Sachs Bank Europe SE, Santander Corporate and Investment Banking (SCIB) and Societe Generale. This transaction involved lawyers from Allen &...

Simmons announces new global head of Practices and Markets

A Law graduate from the Universidad Peruana de Ciencias Aplicadas (Peru) and the Universidad de Ávila (Spain), Rojas holds a Law Master’s degree in...
spot_img
spot_img
spot_img
spot_img
spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
- Advertisement -spot_img
error: