Fluidra, the Spanish listed multinational group devoted to developing applications for the sustainable use of water, has signed a new syndicated loan with a group of banks that offers more favourable conditions, which will result in lower financing costs from this financial year onwards.
The year’s results and the outlook of the financial markets at the beginning of the year enabled us to close a deal on 25 February to secure a syndicated loan of 210 million euros over the coming five years. This new operation consists of a credit tranche worth €155M, with an average lifetime of 4.125 years, and a revolving credit line of 55 million euros over the next five years.
A significant part of the funds from this new loan will be earmarked to cancel the syndicated loan taken out in 2012, thus reducing financial expenses by over 50%.
The group of banks is made up of Santander, Caixabank, Sabadell, Popular, Bankinter, March and Bankia.
Eloi Planes, Fluidra’s CEO, expressed his satisfaction: “At Fluidra we are delighted by this agreement as it shows that the financial sector has every confidence in our company and our project”.
Fluidra, national and international benchmark for sustainable use of water
Fluidra is a multinational group listed on the Spanish Stock Exchange, dedicated to developing applications for sustainable water use. The company specialises in solutions for water conservation, handling, treatment and enjoyment.
Fluidra operates in 43 countries by way of 150 branches and production centres located in the main markets. Fluidra products are distributed to more than 170 countries due to an extensive sales network. The group has some 3,600 employees.
Respect for water and its rational use are two concepts at the core of the philosophy of the group. The companies which comprise Fluidra, some of these with 40 years of experience, have grown with this vision, specializing in a four business units: water treatment, fluid handling, irrigation and pool/wellness.