TAP set to close €360 million private loan with CGD and Santander
This €360 million private loan thus joins the €536 million that was injected into TAP at the end of 2021 through a capital increase.
The government is expected to close over the next few days a €360 million private loan to TAP, via a banking syndicate made up of Caixa Geral de Depósitos (CGD) and Santander, according to newspaper Jornal Económico. The national banks were those that offered the best conditions for this funding, which has a state guarantee.
According to sources cited by the newspaper, contacts were made with several entities – both national and foreign – at the end of last year, but the operation will be closed with CGD and Santander for having offered “more favourable conditions. This private financing, which has a state guarantee and a one-year maturity period, should be concluded by the end of next week, according to the weekly newspaper.
This €360 million private loan thus joins the €536 million that was injected into TAP at the end of 2021 through a capital increase.
