Gamesa arranged a €350 million syndicated financing facility due 2018, which further shores up its financial structure and extends its debt maturity profile.
The transaction was structured in the form of a revolving credit facility. The syndicate is made up of 16 Spanish and international financial institutions and the facility is repayable in a single bullet in four years’ time.
This new credit line will supplement the other undrawn facilities secured by Gamesa for a total €1.8 billion as of mid-June. These available funds, coupled with the company’s growing ability to generate free cash flow from operations, reinforce Gamesa’s long-term financial structure.