Cirsa Refinances Bonds For 615 Million To Reduce Interest And Ampliar Plazos

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Cirsa refinances bonds for 615 million to reduce interest and extend terms. The leisure and gaming company Cirsa has placed a bond issue of 615 million euros with which it refinances previous issues, reducing the interest payment to 4.5% per year and extending the maturity period until 2027.

The new issue has been subscribed by more than 100 international investment funds and allows refinancing all of an issue of 495 million US dollars at 7.875% and part of another issue of 663 million euros at 6.25%, both carried carried out in July 2018, within the framework of the purchase operation of the Catalan company then owned by the Lao family by the Blackstone investment fund.

In addition, this operation allows to reduce the risk of exchange from US dollars to euros and cancel the Revolving Credit Facility (RCF) of 55 million euros that expired in December 2021, thus reinforcing the financial position of the company, it has indicated in a statement the firm based in Terrassa (Barcelona), which has recently seen its rating improved by the rating agencies S&P and Moody’s.

Cirsa refinances bonds for 615 million to reduce interest and extend terms. The leisure and gaming company Cirsa has placed a bond issue of 615 million euros with which it refinances previous issues, reducing the interest payment to 4.5% per year and extending the maturity period until 2027.

The new issue has been subscribed by more than 100 international investment funds and allows refinancing all of an issue of 495 million US dollars at 7.875% and part of another issue of 663 million euros at 6.25%, both carried carried out in July 2018, within the framework of the purchase operation of the Catalan company then owned by the Lao family by the Blackstone investment fund.

In addition, this operation allows to reduce the risk of exchange from US dollars to euros and cancel the Revolving Credit Facility (RCF) of 55 million euros that expired in December 2021, thus reinforcing the financial position of the company, it has indicated in a statement the firm based in Terrassa (Barcelona), which has recently seen its rating improved by the rating agencies S&P and Moody’s.

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