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Pontegadea’s Bank Debt Exceeds €1 Billion for the First Time

Last year, Amancio Ortega's investment company increased its indebtedness with financial institutions to exceed the €1 billion threshold for the first time.

Bloor street calle comercial de toronto donde tiene un inmueble pontegadea amancio ortega 1024x683 1

The Pontegadea Group, which groups together all of the holding companies owned by Amancio Ortega, including his real estate subsidiaries and business interests, increased its indebtedness with financial institutions in 2019, the year that also saw its most active buying activity, to exceed the 1 billion euro threshold for the first time.

According to the consolidated accounts of Pontegadea Inversiones, the company’s debt increased by 20% in 2019 compared to 2018. Specifically, the group closed last year with bank debt of 1.007 billion euros, of which the majority -856 million euros- is due to mature over the long-term.

Read the full article in Spanish.

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