FCC to refinance €5bn debt

The debt due to undergo refinance, which is 60% of the company’s gross debt, is associated with repayments linked to the purchase of WRG, Uniland and Alpine. FCC has already sold its car parking and MOT businesses, and is looking to raise €450million from the sale of its US cement firms.

Auctions, Used Equipment, Rental & Finance / March 27, 2012

The debt due to undergo refinance, which is 60% of the company’s gross debt, is associated with repayments linked to the purchase of WRG, Uniland and Alpine.

3799 FCC has already sold its car parking and MOT businesses, and is looking to raise €450million from the sale of its US cement firms.

With debts of €7.79billion, FCC is expected to make other divestment from assets including Flightcare, Torre Picasso and Logistica. Additionally, a new shareholder, possibly Mitsui, is earmarked for its energy holding, which could help clear around €600million of debt. Its portfolio of subsidiaries could generate extraordinary revenues of at least €1.6billion.

FCC is currently renegotiating financing of €1.35billion for syndicated loans due for repayment in 2012.

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