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- Dołączył(a): czwartek, 7 marca 2024, 03:29
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Preciados, as collateral to refinance its debt of 5,000 million El Corte Inglés is in the process of negotiating with the banks to refinance its debt, close to 5,000 million. The creditor entities have already informed the department store group that it will have to offer emblematic buildings as collateral to extend the maturity periods. The 'mini jobs' arrive at El Corte Inglés, Carrefour, Alcampo, Ikea... They will be hired day by day, settled at the end of the day and will be launched during the high sales season El Corte Inglés plans to change the Opencor stores for Supercor Express stores throughout Spain: the strategy will allow it to lower prices, freedom of schedules and a greater variety of products 06/03/13 | 3:00 Santander, BBVA, Caixabank, Popular, Sabadell and Bankia are the six entities that began negotiations a few days ago for the restructuring of El Corte Inglés' debt. As El Confidencial Digital has learned from sources directly involved in the conversations, the banks that have sat down to negotiate with the group's directors assume that the refinancing process will be quick .
I had never had bank debt These sources explain that there is a good disposition on the part of the creditors, being a company backed by a very high business volume : 15,778 million euros in . It is the first time that the department store group has not been able to finance itself with its own cash generation. Until now, I had never had significant bank debt . The bank demands emblematic buildings The bank has already transmitted to El Corte Inglés some of the conditions to refinance Middle East Mobile Number List its debt. According to the sources consulted by ECD, they have demanded emblematic buildings as collateral , among which the Castellana and Preciados shopping centers in Madrid stand out, to extend the maturity dates that the group faces in the coming months. The distribution chain is distinguished from other firms in the sector by owning all the properties it uses as headquarters for its large stores. For this reason, creditors have held on to the group's portfolio of real estate assets, some of them located in strategic enclaves of large capitals, as collateral in refinancing.
It has become a global icon of luxury and brands and is the center with the highest turnover of all those the chain has. Located in the Azca complex , it occupies a total area of 170,000 square meters , the equivalent of 28 football fields. In 2011, the last major expansion was inaugurated, with an investment of more than 300 million euros, much of it allocated to the purchase of the site occupied by the Windsor building (destroyed by a fire in February 2005). The Preciados center , located a few meters from Puerta del Sol and in the commercial area of Madrid, is also considered by banks to be one of the company's most valuable real estate assets . It is characterized by being a large historic building that has its own parking lot where you can find almost everything (fashion, accessories, stationery, books, records, sports, home...). Banco Santander, the most exposed Santander is the banking entity that has the greatest exposure to the department store firm, with around 1,275 million euros, according to data as of February 28, although the bank has reduced this amount by 100 million since that date .
I had never had bank debt These sources explain that there is a good disposition on the part of the creditors, being a company backed by a very high business volume : 15,778 million euros in . It is the first time that the department store group has not been able to finance itself with its own cash generation. Until now, I had never had significant bank debt . The bank demands emblematic buildings The bank has already transmitted to El Corte Inglés some of the conditions to refinance Middle East Mobile Number List its debt. According to the sources consulted by ECD, they have demanded emblematic buildings as collateral , among which the Castellana and Preciados shopping centers in Madrid stand out, to extend the maturity dates that the group faces in the coming months. The distribution chain is distinguished from other firms in the sector by owning all the properties it uses as headquarters for its large stores. For this reason, creditors have held on to the group's portfolio of real estate assets, some of them located in strategic enclaves of large capitals, as collateral in refinancing.
It has become a global icon of luxury and brands and is the center with the highest turnover of all those the chain has. Located in the Azca complex , it occupies a total area of 170,000 square meters , the equivalent of 28 football fields. In 2011, the last major expansion was inaugurated, with an investment of more than 300 million euros, much of it allocated to the purchase of the site occupied by the Windsor building (destroyed by a fire in February 2005). The Preciados center , located a few meters from Puerta del Sol and in the commercial area of Madrid, is also considered by banks to be one of the company's most valuable real estate assets . It is characterized by being a large historic building that has its own parking lot where you can find almost everything (fashion, accessories, stationery, books, records, sports, home...). Banco Santander, the most exposed Santander is the banking entity that has the greatest exposure to the department store firm, with around 1,275 million euros, according to data as of February 28, although the bank has reduced this amount by 100 million since that date .