Primefin €600 million financing

Overview:

• Primefin—a Luxco indirectly fully owned by Sheikh Hamad bin Jassim bin Jabr Al-Thani—has provided a €600 million convertible loan to El Corte Ingles. 
• The deal provides El Corte Inglés with cash needed to make good on long-standing ambitions to grow abroad.
• Primefin is the first foreign shareholder in Spanish retail company El Corte Inglés after it made a €1 billion acquisition of up to 15.25% of its shares.

Adam Majeed - Regional editor