Urbas manages to reduce its debt from 185 to 56.5 million euros with agreements

Realestate Urbas has reached a series of agreements with financial institutions and investment funds for the cancellation of financial and non-financial debt of the company. Thanks to these, the company will reduce its indebtedness from more than 185 million euros with which the 2020 financial year began, up to an amount of 56.5 million euros, once the agreements formalized with the different entities are executed and materialized, among which is the Company for the Management of Assets from Bank Restructuring (SAREB).

The Company, which has successfully completed the restructuring and management phase of its debt with these agreements, assures in a statement to the CNMV that now, thanks to the substantial improvement of your debt ratios, you will be able to focus entirely on the development of your business plan, on your strategy of diversification and in its ambitious expansion and internationalization plan.

Urbas

Likewise, Urbas has highlighted to the market that the achievement of said agreements entails a increase in your own funds which will serve to reinforce your financial solvency situation. In addition, the company has explained that it hopes to substantially improve its turnover figures compared to the previous year, as well as its total profits, which during 2020 reached a total figure of eight million euros.


Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.

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