SPAIN - GMT completes EUR 26.5m Redext refinancing

The refinancing was agreed with the company's pre-existing lenders, BBVA, Banesto and CAM. The new debt facility will be used to refinance the existing acquisition facility and provide working capital.

Redext was established in 2005 to acquire three independent outdoor advertising groups in Spain (IEPE, Soportes and Impursa). The combined group sells advertising space on large format billboards as well as on urban furniture. Redext owns approximately 600 monopostes, mainly located around large cities, and 70 urban furniture advertising concessions across Spain.

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