The State Society of Industrial Participations (SEPI) has collected between 2022 and 2023 a total of 156.4 million euros for the interest on loans granted to 28 companies to face the drop in activity caused by the pandemic, which totaled 2,681 million euros.
Sources of holding company public industrialist have explained to EFE that in 2022 they received 53.5 million euros in interest on these loans and in 2023 they received another 102.9 million.
In addition, in 2022, 323 million euros were amortized in advance and another 19 million that were planned for that year; and in 2023, 110 million were paid before the deadline and 59 million more on the date.
So far in 2024, around 175 million euros have been paid before maturity.
The SEPI has established a maturity calendar until 2029 in which the main milestone will be 2026, when the beneficiary companies of the Fund to Support the Solvency of Strategic Companies (Fasee) must pay almost 873 million euros, of which more than half correspond to Air Europa (475 million).
In 2028 the payment period for just over 600 million euros ends, an amount in which 149 million of the Hotusa loan is included, although this hotel company has returned 108 million euros in advance, of a total loan of 241 million.
The last year of the fund (2029) the companies have to return 282 million, of which 200 are from Volotea, which will speed up deadlines until the end.
The maturity schedule established by the fund may change, since the companies could have fully or partially repaid ahead of schedule (in this case there are five companies) or even have renegotiated payment terms, as in the case of Duro Felguera.
This same week, the Wamos tourism services group closed the repayment of its 85 million euro loan with a final payment of 67.4 million, after having paid 8 million in 2023 and another 9.6 million last July.
With the settlement of Wamos’ debt, the total sum of anticipated returns to Fasee so far amounts to 608 million, 22.7% of the total 2,681 million.
25 companies are still in the Phase
Now there are 25 companies that have public financing, because the Ávoris group (320 million) and Eurodivisas-Global Exchange (45 million) have already returned the entire loan, in addition to Wamos.
The largest amount of credit, and the first to be granted (on November 3, 2020), was that of Air Europa, for 475 million euros, which the Globalia airline must return in full in 2026, both the part of the participatory loan (240 million) as the ordinary (235 million).
Next in volume is Técnicas Reunidas, for which in February 2022 the Government approved 340 million; You will have to return 49.5 million in 2025 and another 257.5 million in 2026, after having paid the 33 million that were due in 2023.
The third company that received the most public funds, and whose loans are still outstanding, was Hotusa, Amancio López’s hotel company, with 241 million euros, which has advanced its payment schedule and has already repaid 108 million.
The low-cost airline Volotea owes the fund 200 million, the fourth largest amount, which it has committed to paying in 2029.
In the case of Duro Felguera – for which 120 million were approved in March 2021 – the company renegotiated its deadlines: it had to pay the full amount between this year and next, but it will end in 2029, with a payment of 49 million.
Tubos Reunidos obtained 112.8 million, which it will return in 2028, and Air Nostrum obtained 111 million, which it will pay between 2026 and 2028.
Behind them are the hotel manager Hesperia, with 55 million, and the airline Plus Ultra (53 million), a ‘rescue’ that was controversial and ended up in court although the case was finally archived.
Companies such as Vivanta, Isastur, Juliá, Losán, Imasa, Ferroatlántica, Airtificial, Grupo Sehrs, Vicinay, Meeting Point, Soho, Abba, Abades, Mediterránea de Catering, Reinosa Forging & Castings and Rugui Steel appear in figures already below 50 million.
The two companies that Fasee finally did not enter were Celsa, which, after having requested 550 million euros in June 2022, opted, within the framework of its restructuring plan, for other financing methods; and the hotel company Blue Sea, which waived the 25 million loan because it had sufficient liquidity.
Fasee was created in July 2020 to support strategic companies affected by the stoppage of activity caused by the pandemic and was endowed with 10 billion euros.
Initially, 73 applications were submitted for 5,393 million euros; The Government approved 30, for 3,255 million, although in the end 28 (2,681 million) were formalized, of which half belong to the tourism sector (hotels, airlines, travel agencies and restaurants).
#Sepi #collected #million #interest #loans #Covid #fund
