Ferrovial commissions eight banks to organize 600 million euro syndicated financing

Long-term refinancing of the bridge loan obtained for the acquisition of Cespa Banco Bilbao Vizcaya Argentaria, Banesto, Caja Madrid, Citigroup, HSBC, Santander Central Hispano, SG Corporate and Investment Banking and The Royal Bank of Scotland Ferrovial has mandated Banco Bilbao Vizcaya Argentaria, Banesto, Caja Madrid, Citigroup, HSBC, Santander Central Hispano, SG Corporate and Investment Banking and The Royal Bank of Scotland to organize a 600 million euro syndicated financing deal. The aim of the finance deal is the long-term refinancing of the bridge loan obtained to finance the acquisition of Cespa. The market launch of the operation among a limited group of financial institutions is scheduled for the last week in May. The deal is divided into two sections: a 400 million euro 5-year loan, and a 200 million euro one-year revolving credit line. In both cases, the spread is referenced to leverage, measured as net financial debt over EBITDA.