The e-mail was in Spanish, so, for those of you who can read Spanish, here’s what SP said in that e-mail:
21 de Febrero 2011
Service Point cierra con éxito la renegociación de su deuda
El grupo logra acordar con el 100% de su sindicado bancario una extensión de su deuda hasta el segundo semestre de 2013 y el establecimiento de nuevos covenants financieros en línea con su plan de negocio 2011-2013
El acuerdo refuerza el balance de Service Point y le permite disponer de la liquidez necesaria para desarrollar el nuevo Plan Estratégico 2011-2013
En paralelo, SPS ha aprobado en Junta General de Accionista una ampliación de capital por importe de 14,5 millones de euros para la adquisición de Holmbergs, financiar el desarrollo del negocio online y reforzar su balance
Here’s how Google Translate translated into English the Spanish-language press release:
February 21, 2011
Service Point completed, successfully, renegotiation of its debt
The group manages to agree with 100% of their syndicated bank debt extension until the second half of 2013 and the establishment of new financial covenants in line with its 2011-2013 business plan
The agreement strengthens the balance (sheet?) of Service Point and allows you (it?) to have the liquidity necessary to develop the new Strategic Plan 2011-2013
In parallel, SPS has approved in General Meeting a capital increase amounting to 14.5 million Euros for the acquisition of Holmbergs, finance, business development and strengthen their balance online
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