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Metrovacesa Launches a Promissory Note Issue Amounting to €100 Million

The property developer controlled by Santander has incorporated a promissory note issue program onto the MARF with a maximum balance of 100 million euros.

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Metrovacesa has incorporated a program to issue promissory notes onto the Alternative Fixed Income Market (MARF) with a maximum outstanding balance of 100 million euros and with maturities of up to 24 months.

The objective of this issue is to diversify its sources of financing by going to the capital market. “The property developer will use this issuance program to complement its bank financing, to take advantage of the opportunities currently offered by the capital market and to improve its average cost of financing”, said the company in which Santander holds a stake.

Read the full article in Spanish.

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