FC Barcelona plans to increase Espai Barça credit line by €300 million

FC Barcelona intends to seek the approval of delegated members during the ordinary general assembly scheduled for September 19, to extend the credit line allocated for the completion of Spotify Camp Nou works, amounting to up to €300 million.

According to "Mundo Deportivo", the club will present a request to its members for additional funding to complete stadium works, without including any reference to the new Palau Blaugrana project. This funding comes as an additional issuance to the initially approved amount of €1.5 billion, which had an initial cost of 5.53%.

FC Barcelona has indicated that several refinancing operations have already taken place without increasing the value of the financing, aiming to distribute repayment operations more regularly. Currently, the average cost of debt stands at 6.15%, while the spread in the latest operations reaches 242 basis points.

Regarding the debt structure, the club clarified that it maintains it through a securitization fund that acquires the collection rights of certain income sources linked to the operation of Spotify Camp Nou. As the debt increases, the core revenue structure will temporarily change, with revenues first allocated to servicing the debt until the stadium works are completed and specific financial ratios are achieved, after which any surplus will return to the club.

The total debt structure repayment will be distributed over a period of up to 30 years, with the possibility of refinancing during this time.

Goldman Sachs is expected to structure the process, with a closure involving long-term institutional investors.