Gamesa signed a €750 million syndicated loan agreement with a single bullet repayment in December 2019.
This agreement, entered into with a syndicate of 15 Spanish and international financial institutions, structures the two existing syndicated loans, which originally matured in June 2016 and June 2018, respectively, into a single revolving loan, thereby lengthening the average term of the company’s borrowings.
In addition, the agreement enhances the company’s borrowing terms and costs, providing the group with a more flexible multi-currency line designed to cater to its business needs anywhere in the world.
This refinancing transaction complements other undrawn facilities secured by Gamesa, which continue to total over €1.8 billion in aggregate. These available funds, coupled with the company’s growing ability to generate free cash flow from its operations, strengthen and increase the flexibility of the firm’s long-term financial structure.