Ercros S A : closes a financing agreement for the next six years
December 28, 2023 at 02:57 am EST
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Last Friday, 22nd of December of 2023, Ercros and a pool of financial entities signed a syndicated financing agreement for the next six years formalized in two lines of financing for a total amount of 217 million euros.
The agreement is structured through the following financial instruments:
A syndicated factoring contract that anticipates accounts receivable from clients and will allow working capital to be financed up to a maximum amount of 102 million euros, which replaces the current factoring contract expiring in May 2024.
A syndicated loan for a maximum amount of 115 million euros with two tranches: a revolving tranche for the amount of 50 million euros, which replaces the current credit for the amount of 30 million euros maturing in May 2024; and a loan tranche to finance investments up to a maximum of 65 million euros.
The syndicated loan has been co-led by Banco Santander, BBVA and CaixaBank. Other financial entities, such as Banc Sabadell, Deutsche Bank, Banco Pichincha, Abanca, Ibercaja and Bankinter, also participate.
This financing covers all the needs anticipated by the company in the coming years and will allow Ercros to undertake the necessary investments to complete its 3D Plan (2021-2025): Diversification, digitalization and decarbonization.
Ercros SA published this content on 28 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2023 07:56:46 UTC.
Ercros SA is a Spain-based company engaged, together with its subsidiaries, in the chemical industry. The Companyâs products are structured into three business lines: Businesses Associated to Chlorine, which comprises the production of chlorine, ethyl acetate, caustic soda, sodium hypochlorite, dichloroethane, chloromethane, sodium chlorate and caustic potash, polyvinyl chloride (PCV), as well as water disinfectants; Intermediate Chemicals, which produces formaldehyde, glues and resins for the fiberboard and plywood industries, and Pharmaceuticals, which comprises raw material and intermediate products used in the pharmaceutical industry. The Company owns such subsidiaries as Marcoating SLU, Gades Ltd and Ercekol AIE, among others. In April 2014, it sold Fosfatos de Cartagena SLU to Timab Iberica.
ERCROS, S.A. 
