The Sando group of companies today formalised the signing of the closing deed of the company´s financial restructuring, signed on 30 April, which was subject to the fulfilment of certain suspensive conditions that have been successfully overcome.
\nThe company has reached an agreement to restructure its financial debt with a six-year syndicated loan of 77.7 million euros, as well as the granting of a new line of guarantees amounting to 15 million euros for new projects.<\/p>\n
Sando will repay part of the debt, worth 50 million euros, through divestitures of non-strategic assets, and it will pay the remaining part, 27.7 million euros due in 2025, by means of its business activity and cash generation. In recent months the company has already begun to divest non-strategic assets, reducing corporate debt. <\/p>\n
The signing of the effective closing of the financial restructuring allows the agreement reached in April to be recorded in accounting, which means a structural change in the company´s accounts that will demonstrate Sando\u2019s solvency and financial capacity to its customers, suppliers, credit rating companies, etc.<\/p>\n
Thanks to the work done, a new phase begins in which the future of the Sando group\u2019s business is secured to continue being a benchmark in the sector.<\/p>\n