MADRID, 22 (EUROPA PRESS)
Martinsa Fadesa has offered its creditor banks redeem much of the debt of 3,500 million euros currently supported by shares of real estate, so that financial institutions would control 70% stake in the company.
The remaining 30% interest in the property would be left to its president and current shareholder, Fernando Martin, and his partner Antonio Martín, according to Europa Press sources of the company.
The swap debt for equity is the main proposal of the plan that Martinsa Fadesa presented on Monday his fourteen bank creditors to achieve debt refinancing before next December 31 to avoid liquidation.
The realtor who in 2011 surpassed the greatest competition of history also provides banks redeem another 34% of the debt by transferring real estate assets.
According to Europa Press sources of Martinsa, banks have asked the company concretions on some of the terms of the proposal. The housing plan to send these details Tuesday morning to continue negotiations in search of an agreement
.
No comments:
Post a Comment