Real Betis have announced that they are taking out a €125m loan from American investment bank Goldman Sachs, as they seek to improve their finances ahead of stadium renovations.
Los Verdiblancos have announced the new loan will in the main function to restructure a number of loans they have taken out at higher interest rates than are available now into one long-term loan at a lower interest rate. Reported by Relevo, La Liga were also consulted throughout the process.
“This alliance will allow the restructuring of the debt, of a senior secured nature, with a maturity period of 10 years, principal grace period of 3 years, average life of around 8 years – including a bullet payment at maturity of 50% of the nominal amount of the debt. debt, and underlying cost, incorporating a very advantageous annual interest rate,” read a statement from Betis.
Part of the reason for the refinancing of the debts are to deal with the costs of their stadium renovations. Los Verdiblancos are keen to remodel the Benito Villamarin and add a roof to their stadium, as well as adding new and improved facilities in the surroundings of the ground. The capacity will decrease by several hundred, but more VIP suites added, as well as entertainment options for fans.
