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Bankia and CaixaBank Lend Slim €536 Million to Refinance Realia

The real estate company has renewed its syndicated loan five years after signing it, with Bankia and CaixaBank assuming 60% of the debt.

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In April, the Spanish real estate company led by Carlos Slim signed the novation of the syndicated loan for its subsidiary Realia Patrimonio, which is dedicated to the rental business. The new agreement extends the loan term for an additional year, until April 2025, and reduces its differential by up to fifty basis points, based on the company’s loan to value, as reported by the real estate agency to the CNMV.

With this agreement, the firm has renewed under better conditions the syndicated loan signed in April 2017, when the listed real estate company signed a syndicated loan for its subsidiary amounting to €582 million with a maturity of seven years.

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