Eroski has formalized the signing of restructuring contracts for its financial debt, in accordance with the terms and conditions already agreed at the beginning of last March with its main creditor entities. The agreement open to the firm will come into effect on July 31, and shows the bank’s support for the project and Eroski’s business plan by providing it with financial coverage until 2024. The agreement has already been signed by creditor entities that represent the 95 , 57% of the group’s financial debt. The rest of the entities will be joining in the coming dates.
As foreseen in the agreement reached in March between Eroski and the main entities, the agreement will be submitted to the procedure of judicial approval to provide greater legal security to its content.
Markaide, President Eroski: “The trust of financial entities in our project allows us to face the challenges defined in our business plan”.
The president of Eroski, Agustín Markaide, has positively valued the signing of the agreement: “The trust of the financial entities in our project allows us to
Frontend the challenges defined in our business plan with the financial needs covered. As a consequence, at the end of the period, we will have a normalized level of indebtedness in relation to the generation of recurring funds “.
Eroski has complied with all the commitments of the previous agreement, effective until July 31. Its debt amortization reaches almost 1,800 million euros since 2010. As stated in the pre-agreement reached in March, the agreement does not include the obligation to carry out divestments.