Spain’s FCC to award Portland Valderrivas €100mn loan

Spanish construction company, FCC, is to award its cement subsidiary, Portland Valderrivas, a €100 million loan after the cement company postponed its planned €100 million capital increase due to current market conditions. Portland Valderrivas may carry out the capital increase in 2013 if market conditions improve. The operation is part of an agreement with 31 creditor banks to refinance its €1.48 billion long-term debt. The refinancing plan includes a bond issue in the US to refinance the debt of its US
October 16, 2012 Read time: 1 min

Spanish construction company, 3799 FCC, is to award its cement subsidiary, Portland Valderrivas, a €100 million loan after the cement company postponed its planned €100 million capital increase due to current market conditions.

Portland Valderrivas may carry out the capital increase in 2013 if market conditions improve. The operation is part of an agreement with 31 creditor banks to refinance its €1.48 billion long-term debt. The refinancing plan includes a bond issue in the US to refinance the debt of its US subsidiary, Giant.

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