Real Madrid Secures Mega-Funding For Stadium Remodelling
April 15, 2019
The Board of Directors of football club Real Madrid has approved the closing of funding for the remodelling of the Santiago Stadium Bernabéu for a total amount of €575 million.
The total amount will be with a term of 30 years and a fixed interest rate of 2.5% . This financing has been structured through a loan with three tranches, July 2019, July 2020 and July 2021, coinciding with the needs foreseen for the payment of the works.
The loan also includes 3 years of lack of amortisation of the principal, which will make Real Madrid pay a fixed annual fee of 29.5 million euros, from July 30, 2023 and until its expiration on July 30, 2049 .
The financing has been structured by JP Morgan and Bank of America Merrill Lynch with the collaboration of Banco Santander and Société Générale. Meanwhile, CaixaBank will act as agent of the operation. Key Capital Partners has acted as financial advisor and coordinator of financing for Real Madrid.
