New Pescanova is activating a €125 million ($141.5 million) line of credit to finance the company, announced group director Jacobo Gonzalez-Robato, while inviting all creditors to participate of the loan which has an interest rate of 15 percent and will reach maturity in 2034, reports La Opinion de A Coruña.
During an extraordinary shareholders meeting, Gonzalez-Robato said the G-7 -- Sabadell, Popular, CaixaBank, Abanca, Bankia, BBVA and UBI Banca – already provided €83.4 million ($94.4 million) of that credit for the company’s working capital last December.
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