According to information from the company, these loans have an average expiry period of 7.3 years, an average financial total cost of total 1.5% and a bullet component (return of the capital up to the expiry date) of 95%.
Axiare explains that these agreements, “have been secured with very flexible conditions”, no penalties in the case of cancellation, and will elevate the gross leverage ratio of the company to 44%.
In his way, Axiare Patrimonio has secured since its creation a total of 538 million euros in financing agreements. The total average cost of the debt is 2.16% over an average of 7 years, together with a high bullet component.
Luis López de Herrera-Oria, Managing Director of Axiare Patrimonio, states, “these financing agreements reflect the quality of the current portfolio and the confidence in our management team. Thus, we have about 150 million euros available for further investment and for improving our portfolio”.
For the deal, Axiare Patrimonio was advised by Gómez-Acebo y Pombo. The consultants for ING Bank were Hogan Lovells and, for CaixaBank, Uría Menéndez. BBVA used its own legal consultancy.