Gamesa has entered into a EUR 750 million syndicated loan agreement with 15 Spanish and international financial institutions.
The company says this agreement 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, Gamesa says 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.
This refinancing transaction complements other undrawn facilities secured by Gamesa, which continue to total over EUR 1.8 billion in aggregate. Gamesa claims these available funds, coupled with the company's growing ability to generate free cashflow from its operations, strengthen and increase the flexibility of the firm's long-term financial structure.
