SPAIN - Permira refinances DinoSol's debt package

According to press reports, the refinancing of the EUR 488m debt package, provided by Société Générale, with RBS and Caja Madrid as co-arrangers, will reduce the interest that the company was previously paying by 25%. This will allow the private equity firm to recover a large part of its initial investment of over EUR 600m.

As well as the refinancing, it is understood that Permira's agenda will also see the sale of 135 points of sale to reduce costs. The company posted losses of EUR 103.7m in the year of Permira's takeover. However it showed signs of recovery when it reported positive results of EUR 3.22m in 2005.

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