DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

El Corte Inglés Signs New Financing Contract Worth €1.3bn

By Dayeeta Das
Share this article
El Corte Inglés Signs New Financing Contract Worth €1.3bn

Spanish retailer El Corte Inglés has announced that it has signed a new financing contract worth €1.3 billion with 14 national and international financial entities.

The contract has a one-year maturity articulated through a revolving line of credit, the company added.

It will help the company in facing the economic impact of the coronavirus epidemic in the coming months.

The new deal, piloted by CEO Víctor del Pozo, will ensure stable short-term financing without the provision of guarantees.

The financial institutes that have participated in the agreement include Santander, BBVA, Caixabank, Sabadell, Bankia, BNP, Crédit Agricole, Société Genérale, Goldman Sachs, KutxaBank, Commerzbank, Ibercaja , Liberbank and Cecabank.

ADVERTISEMENT

This financing contract complements a €2 billion refinancing agreement signed by the retailer in February of this year.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.