Renta Corporación secures reduced Eu254m refi deal

Renta Corporación, the Spanish property group, has refinanced a Eu500m syndicated loan signed in February 2007. Lenders agreed to waive Renta’s covenants last August, and a refinancing — dependent on the borrower reducing its debt via asset sales — was expected to be finalised in October. But the worsening of Europe’s property market lengthened the process.

  • 03 Mar 2009

The agreement means Renta’s facility has been reduced to Eu254m. Its Eu62.5m of bilateral facilities remain in place, however.

The new deal, which has a seven year tenor, was led by Banco Popular, BBVA and Santander.

Fourteen other lenders also committed.

The borrower will not have to make any amortisations until ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 2,454.09 9 13.89%
2 JPMorgan 1,441.26 6 8.16%
3 SG Corporate & Investment Banking 1,292.64 1 7.32%
3 Rabobank 1,292.64 1 7.32%
5 Bank of America Merrill Lynch 1,226.20 5 6.94%