Madrid, Feb 19 (.).- The damaged real estate asset manager Haya Real Estate has reached an agreement with the main holders of its bonds for the refinancing of its debt, which will extend its maturity by three years, until November 2025.
The company has reported in a note that this postponement gives it stability to develop its business plan and strengthens its capital structure by reducing its debt and increasing its own resources.
Following the agreement, Haya’s bondholders, who represent approximately 60% of its debt, will now have a minority stake (27.5%) in the capital and will obtain improvements in the economic terms of their bonds, including an increase in the coupon.
At the same time, the company will partially redeem outstanding bonds using its “strong” cash position.
The Cerberus fund will continue to play a key role in the future development of Haya as a reference shareholder with 72.5%, the note indicates.
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