The Celsa Board of Directors has announced a new restructuring of the Spanish steel company's finances. This includes a cash contribution of 200 million euros ($231.4 million) from current shareholders to the company's capital, as well as 600 million euros in the form of a subordinated loan.
The refinancing will include "tapping debt capital markets," according to a statement from Celsa, which is being monitored by Kallanish. "The adjustment marks the completion of the financial reorganization process, which began in September 2023 after the change of control over the company."
Due to the implementation of its industrial plan and a more favorable forecast of the macroeconomic situation in the steel sector for 2026, Celsa expects significant economic growth and revenue recovery next year.
The steel mill has called an extraordinary meeting of shareholders for December 4.
Todor Kirkov Bulgaria
Kallanish.com
