Spanish property company Martin Fadesa has announced that its creditor banks have agreed to delay the payment date of its approximately EUR 362 mln debt until 26 March. The company is attempting to restructure its entire EUR 5.1 bn debt load and has agreed with almost all its creditors, who part financed its acquisition of Fadesa Inmobiliaria. The exceptions are the overseas funds involved in the syndicate. The company stated that it expects an agreement to be reached by ‘no later than March 26’.
Premium subscriber content – please log in to read more or take a free trial.
