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Neinor Cancels its ICO Loan and Requests New Financing from Santander

The housing developer cancelled a public loan granted by the entity in December, which granted it two loans for the same amount to allow for the distribution of the dividend.

Borja Garcia Egocheaga 2. CEO Neinor Homes 1024x682 1

In December, the property developer Neinor Homes agreed various financing operations with Banco Santander.

Specifically, in April, Neinor requested a loan of 40 million euros to cover the impact of Covid-19. Santander granted the loan with a guarantee of up to 70% from the State through the Official Credit Institute. According to company sources, this request was a security measure to strengthen liquidity as part of a contingency plan.

Read the full article in Spanish.

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