Sacyr Vallehermoso is planning to refinance a loan worth $7 billion for its stake in oil company, Repsol, The Wall Street Journal reports. The syndicated loan, secured by the Spanish builder for the Repsol deal will be maturing at the end of 2011.
A consortium of emerging market banks will participate in the loan and Banco Santander will hold a bigger part of the loan. Sacyr also aims to keep its stake in the Spanish oil company at 20% only.
