Benfica reduces the bank debt by 97,3 million euros

Sport Lisboa e Benfica – Futebol, SAD communicated this Thursday to the Portuguese Securities Market Commission the abatement of 97,3 million euros "of the existing bank debt to the Novo Banco and Millennium bcp, which is reflected in the liability on December 31, 2017". The operation announced to the Benfiquistas by President Luís Filipe Vieira is thus formalized.

According to the information given to CMVM, "Sport Lisboa e Benfica – Futebol, SAD proceeded to the early repayment of the Project Finance debt, for an amount of 37,8 million euros". "Since February 28, 2018, it had already been paid an installment of 2,5 million euros, as laid down contractually, the total amount of repayments made to Novo Banco and to Millennium bcp has ascended to 40,3 million euros", can be read in the statement.

"It also informs that on March 29, 2018, was repaid to Novo Banco the 2nd issue of commercial paper, in the amount of 57 million euros, which had been subscribed on September 29, 2017, for a period of six months, having been today formalized the agreement on cessation of the Commercial Paper Program. After the conclusion of this process, the Benfica SAD and its subsidiary Benfica Estádio reduce in 97,3 million euros the existing bank debt to Novo Banco and Millennium bcp, which is reflected in the liability on December 31, 2017", clarifies the statement to CMVM.

"In addition, were ceded, without appeal, future credits related to the profits of the TV exploitation rights celebrated with NOS, which are registered as passive and associated to the profits due to the contract with NOS, under its normal deadlines", still indicates the document transmitted by the benfiquista society.

Pictures: SL Benfica