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Bankia and Meriton agrees terms to restructure the debt of Valencia CF

06 June 2014

Category: Corporate

  • The new debt structure would allow Bankia the possibility of fully recovering all the financing granted to Valencia and its Foundation 

Bankia and Meriton agrees on the material terms and conditions of the restructuring of Valencia CF debt. The terms are subject to meeting certain milestones and final legal documentation to be agreed by both parties.

The transaction is structured so that it would allow Bankia the possibility of fully recovering all funds granted in the past to both the Club and its Foundation VCF, for a total amount of circa 320 million euros.

The final round of talks began last May 16th at the request of several investors and has resulted in an agreement of material terms with Meriton Holdings. Meriton Holdings filed a strong offer including an executable, consistent and credible business plan for Valencia CF, which has allowed a sustainable long term restructuring of the existing Valencia CF debt. This provides long term financial stability and a solid platform to strengthen the Club.

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