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Ercros renews the syndicated financing agreement

Barcelona, May 8, 2020. - On Wednesday, May 6, 2020, Ercros signed the syndicated financing renewal agreement with a pool of financial institutions.

The agreement includes the following financial instruments:

  1. A syndicated factoring, with a limit of 102 million euros. The term is four years, extendable to five, and for the first time includes clients in dollars. It is divided into two sections:
    1. a section without recourse, for those clients with guaranteed payment through a credit insurance policy; and
    2. a section with recourse, for those clients not included in the section without recourse.
  2. A revolving loan, amounting to 30 million euros, for a term of four years, extendable to five. This credit includes for the first time an ESG (Environment, Social and Governance) component.
  3. A new specific tranche to finance investments, amounting to 15 million euros, for a period of five years that contains the same ESG component as the revolving credit.

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Ercros guarantees that the relevant events that appear on this website correspond exactly to those sent to the CNMV by the company and disseminated by that organisation. The relevant events preceding those included in this section are available on the website of the CNMV.


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