Grupo Dia, a leader in local food distribution, has signed a refinancing agreement for an amount of €885 million aimed at strengthening its capital structure and accelerating its growth plan.
This milestone has been reached one year before the maturity date of the current financing terms.
This agreement proves the confidence of its financial community in the group’s results and strategy, focused on consolidating and expanding its leadership as a reference store in proximity and the online channel.
Refinancing Agreement
In a statement on Wednesday, the group said funds received in this transaction will be used to fully repay the current financing consisting of the financial debt under the syndicated financing contracts originally entered into on December 31, 2018.
Funds would also repay the debt under the bonds issued by the company, and the bilateral financing facility, as well as cover the costs associated with this refinancing.
Funds would also support the company’s growth plan and its working capital needs.
Growth Plans
Martín Tolcachir, Global CEO of Grupo Dia said, “This refinancing agreement demonstrates the confidence of the financial community in the company and the success of its business transformation.
"We are moving forward with a firm step. With this transaction, we have the foundation to support our growth plans for the coming years.
"The improvement in performance has been possible thanks to the excellent work of our team and our franchisee network.
"I am deeply excited that the company is entering a new phase of accelerated growth.”
