Barcelona officially announced that the club has successfully issued bonds worth 424 million euros.
Barca said the financing allowed the club to conduct large-scale refinancing on the debt related to the Espai Barça project, and could even be completed before the first team officially returns on August 10. Note: The Espai Barça project, which aims to comprehensively modernize and expand its existing facilities, is the core of rebuilding Camp Nou. With the help of regular financial partners such as Goldman Sachs, the club has converted €424 million in debt through its existing financial structure, which was originally used for the construction of the new stadium and was due in 2028. The new financial structure will be repaid from 2033 and will be paid off in 2050. The average cost of refinancing is 5.19%.
This operation demonstrates the club's strong attraction to financial institutions investors, and also reflects the positive trend in the club's economic situation, almost reducing the risk premium to half of the initial issuance in 2023. The club not only follows the necessary steps to ensure the gradual and phased repayment of Espai Barça-related debts, as approved in the General Assembly, but also advances the scheduled refinancing schedule through this operation.
Against this backdrop, the completion of this transaction further demonstrates the recent statement issued by Morningstar DBRS rating agency confirming the improvement of ratings from "stable" to "positive", which shows the economic recovery of FC Barcelona and its ability to fulfill its obligations to creditors.
In April 2023, the club announced the completion of financing for the Espai Barça project, ensuring the start of the renovation of the Camp Nou Stadium and meeting the criteria approved by the referendum, without club assets guaranteed or stadium mortgage, and no fees were incurred for members. The financing involved 20 investors, with a total amount of 1.45 billion euros.
In this case, the initially closed financial structure has different durations (5 years, 7 years, 9 years, 20 years and 24 years) and is refinancing with flexible structure and grace periods. It is worth noting that the club will start repaying the financing after the stadium works are completed, and the revenue generated by the new Camp Nou is expected to be approximately 247 million euros.
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