Hispasat has renewed and expanded a line of credit after the Spanish satellite operator agreed to incorporate sustainability criteria for the first time.
A bank syndicate, comprising five financial institutions, has granted Hispasat a line of credit of €250 million that will be used to reinforce the company’s liquidity and support the execution of its 2020-25 Strategic Plan.
CaixaBank, acted as the agent bank of the operation and sustainability coordinator, BBVA, Societé Generale, Bankinter and Kutxabank.
This agreement, which extends and expands the current line of credit, makes it possible to adapt the terms and conditions of funding to the ESG (Environmental, Social and Governance) criteria and indicators aligned with owner Redeia’s policies in this area.
Juan Jesús García Chaparro, Economic and Financial Director of HISPASAT, said that “during these tough times for international markets, the financial sector’s support of Hispasat is a strong sign of confidence in the strength of the company and its strategic project to move up the satellite services value chain while we firmly commit to sustainability and socially responsible actions within the scope of our activity”.
The new multi-currency revolving line of credit extends its maturity date to August 2025, with the possibility of extending it on a yearly basis to August 2027.