On 28 December 2006 MP Corporación Industrial, S.L. signed a syndicated loan agreement with eleven finance companies. The loan is worth 45 million euros and the banks are Banco Espírito Santo de Investimento, S.A. (Espírito Santo Investment) and Montes de Piedad y Caja de Ahorros de Ronda, Cádiz, Almería, Málaga and Antequera (whose trade name is UNICAJA). The loan was also backed by nine other finance companies: Banco Espírito Santo, S.A. (BES), Banco Bilbao Vizcaya Argentaria, S.A.(BBVA), Monte de Piedad y Caja de Ahorros de Huelva y Sevilla (El Monte), Banco Sabadell, S.A., Caja de Ahorros y Monte de Piedad de Madrid (Caja Madrid), Banco Español de Crédito, S.A., Caja de Ahorros de Galicia (Caixa Galicia), Caja de Ahorros de Castilla - La Mancha (CCM) and Caixa de Estalvis i Pensions de Barcelona (La Caixa).

MP signed a syndicated loan agreement of 45 million euros

The loan consists of a loan amount of 30 million euros borrowed over a seven year period and a credit line of 15 million, which is available over a five year period.

The success of the facility is reflected in the high level of oversubscription during the syndication process, which will support the targets outlined within the company’s new Strategic Plan.

MP will use this loan, which is its largest to date, to refinance all of the debts incurred by its subsidiary industrial companies, while the remainder will be used as long term financial resources for developing the corporate targets established in its Strategic Plan.

In this way, MP has been able to reshuffle the organisational structure of its subsidiary companies, thus improving its capacity to manage all of its industrial activities. It also has the financial resources to meet the group’s growth targets, in accordance with what the company’s Strategic Plan has forecast for the next few years.

MP also reorganised the structure of the group’s subsidiary companies in 2006, making MP Corporación Industrial, S.L. the parent entity, controlling all subsidiary shares in the group’s industrial companies. It is also responsible for managing all activities carried out by subsidiary companies.

At the same time, it has created a new position within the Industrial Group, that of General Corporate Director, which has been taken up by Eugenio Barroso. It has also incorporated the following positions into its Corporate Structure: Production and Purchasing Manager (Manuel Moreno), Head of Engineering and R&D (Manuel Barranco), Quality Control Manager (José Ángel Conchello), Business Development Manager (Gonzalo Fedriani), Corporate Secretary (José Luis Mora-Figueroa), and General Financial Secretary (Luis Mora-Figueroa).

Luis Mora-Figueroa
General Financial Secretary