Hispasat renewed and expanded a credit line after the Spanish satellite operator agreed to incorporate sustainability criteria for the first time.
A banking syndicate, made up of five financial institutions, granted Hispasat a credit line of 250 million euros which will be used to strengthen the company’s liquidity and support the execution of its 2020-25 strategic plan.
CaixaBank, acted as agent bank for the operations and sustainability coordinator, BBVA, Société Générale, Bankinter and Kutxabank.
This agreement, which extends and expands the current line of credit, makes it possible to adapt the financing methods to the ESG (Environment, Social and Governance) criteria and indicators aligned with the owner Redeia’s policies in this area.
Juan Jesús García Chaparro, Economic and Financial Director of HISPASAT, said that “in these difficult times for international markets, the financial sector’s support for Hispasat is a strong sign of confidence in the solidity of the company and its project. strategy for increasing the power of the satellite. value chain of services while firmly committing to sustainability and socially responsible actions within the framework of our activity”.
The new multi-currency revolving credit line extends its maturity date to August 2025, with the option to extend it on an annual basis to August 2027.