El Corte Inglés debt in Spain to be refinanced

El Corte Inglés Spain’s major department store Credit: Shutterstaken

JUST two years after it struck a deal with its lenders, El Corte Inglés is looking to refinance its €2.3 billion debt.

There is no suggestion that this is a panic move, it simply believes that it can reduce interest payments as rates are now much lower and can also raise funds by issuing additional bonds to private investors.

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In the end it hopes to move to €1.2 billion in long-term loans and the balance in short term borrowing which can be quickly replaced if needed.



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