Red Eléctrica secures €500M loan to finalize Hispasat takeover
Red Eléctrica has moved to fortify its position in Spain’s satellite sector. The company agreed in February to acquire Abertis’ 89.7% stake in Hispasat for €949 million. To fund part of the deal, it has now secured a €500 million credit line from a group of four banks.
The sale marks Abertis’ exit from Hispasat, allowing the firm to focus fully on its core toll-road operations. Red Eléctrica stepped in to acquire the majority stake, which was valued at around $1.1 billion at the time of the agreement.
The financing for the purchase comes from a banking syndicate, though the names of the participating lenders have not been disclosed. The credit line spans five years, with an option to extend it to seven. This long-term funding will cover a significant portion of the acquisition cost.
With the €500 million loan in place, Red Eléctrica is set to finalize its takeover of Hispasat. The deal will expand its involvement in Spain’s satellite communications industry. The extended repayment period also provides financial flexibility for the company’s future plans.
