A three-month extension is expected. Sacyr is having difficulties placing its 10% in Repsol on the market, an essential requirement to reach an agreement with the bank on the refinancing of the credit for the purchase of 20% of the oil company. The main obstacle is that the construction company seeks a sale price that includes a premium over the listed value. As El Confidencial Digital has learned , the new president of Sacyr is seeking 'in extremis' to close this week a refinancing agreement for the Repsol loan with the creditor banks - in view of the construction company's council, scheduled for tomorrow, Thursday - , since his wish would be to be able to present a bottle of oxygen for the company at this meeting. However, according to sources close to the negotiation, it seems quite difficult to arrive on time.
Manuel Manrique 's approach of obtaining a premium in the sale price above the market value is putting the company in serious trouble, just one week before the expiration of the syndicated loan of 4.9 billion that it incurred for the purchase of the 20% of Repsol . And, according to these sources, this position is scaring away potential UK Mobile Number List buyers, which hinders the possibilities of a positive outcome in the short term, that is, before December 21 , the date on which the loan matures. The banks are clear about their position. They want guarantees from Sacyr . This signal involves not withdrawing its willingness to put half of its stake in Repsol up for sale, that is, a minimum of 10% . However, the desire of the creditor entities is not to execute the credit either.
According to the sources consulted, the eventual agreement, before next week, would be reached around the last proposal presented by Sacyr to the banks a few weeks ago, extending the period to return part of the credit for a period of approximately three months . In this context, the company would have more time to place its package with Repsol. But you should hurry. The bank would not be willing to grant another extension . The same sources familiar with the conversations explain that the possibility that Sacyr raised in one of the meetings with the bank of signing a bridge refinancing of 100% of the loan for a few months, to renegotiate in the long term with more time, has already been ruled out before the refusal of some entities present in the banking union. In March the Supreme Court reduced the sentence: it sentenced him to three months in prison and disqualification from performing banking duties for the crime of false accusation.