El Corte Inglés debt in Spain to be refinanced


JUST two years after it struck a deal with its lenders, El Corte Inglés is looking to refinance its €2.3 billion debt.

There is no suggestion that this is a panic move, it simply believes that it can reduce interest payments as rates are now much lower and can also raise funds by issuing additional bonds to private investors.

In the end it hopes to move to €1.2 billion in long-term loans and the balance in short term borrowing which can be quickly replaced if needed.