Syndicated Firm

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Investors information

GRUPO ORTIZ signs Long-Term Syndicated loan agreement with the major financial institutions valued in 110 million euros.

GRUPO ORTIZ has signed a syndicated loan agreement with the major domestic financial institutions for the sum of 110 million Euros in two tranches: 55 million Euros over a term of 5 years for Tranche A, and 55 million with a term of 3.5 years extendible by 1 additional year for Tranche B.

Banco Santander is the Coordinating Bank and Agent for the transaction and participating institutions include, in addition to Banco Santander itself, Banco Sabadell, Caixabank, Banco Popular, BBVA, Bankinter, Instituto de Crédito Oficial (ICO), Ibercaja and BMCE.

This Syndicated Loan reinforces the financial structure of GRUPO ORTIZ, replacing the existing working short term debt for long-term debt while also attracting new funding for investment, all of which constitutes an important boost the development of its Business Plan. In addition, thanks to the current situation of the finance market, the Group has managed to achieve a reduction in finance costs.

Finally, it is noteworthy that GRUPO ORTIZ's consolidated debt ratio NFD/EBITDA (recourse-only) for the year 2014 is under 2 and the objective is to maintain this ration or even to reduce it. 

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