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Azaria contracts €92M loan to refinance debt
15 May 2019 | Vanessa Sousa

During an extraordinary general meeting, the shareholders of young REIT Azaria approved the request of a 91.65 million euro line of credit to partly refinance its debt.

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According to information provided by the company to Mercado Alternativo Bursátil – where the company has been listed since last September -, with this capital the REIT managed by Drago Capital should also advance with the purchase transaction of its own equity, by paying 2.1 million euro for the acquisition of 24.8% of its share capital.

«The definitive amount of capital reduction will be determined by the company’s board (with express delegation powers) according to the final number of shares acquired», it can be read in the same document.

Besides these goals, Azaria will use this capital to finance an extraordinary distribution among the shareholders and to partially cover future financing needs the group might experience.