ACS has reached an agreement with a broad group of financial institutions to refinance 2.1 billion euros of its corporate debt and extend the maturities. The company chaired by Florentino Pérez has agreed with a syndicate of 45 banks, both national and international, to renegotiate the loan originally granted in 2015 for 2.1 billion euros, pushing its due date to November 20, 2029, with the possibility of extending it for two more years, up to 2031. This refinancing strengthens the group’s balance sheet and provides a longer runway to support its ongoing infrastructure and construction programs across its global footprint. It is intended to stabilize liquidity and reduce near-term refinancing risk amid market volatility, while continuing to fund major projects and preserve relationships with its financing partners.
The debt has already been amended four times in the past, in 2015, 2016, 2017 and 2019. It is now divided into two tranches: a tranche A of 950 million euros and a tranche B of 1.15 billion euros for liquidity facilities, according to the company in a relevant fact filed with the CNMV.
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The group’s net debt stands at 1.605 billion euros, according to the latest semiannual results. This figure rose by 440 million euros due to the consolidation of the Australian mining company Thiess, in which Cimic, another ACS subsidiary, controls a 60 percent stake. About 83 percent of these liabilities carry fixed rates or are hedged against potential increases in the cost of money. The refinancing and the Thiess integration demonstrate a disciplined approach to balance sheet management, aligning long-term funding with a growing portfolio of infrastructure and mining-support projects across the globe.