The SAD of FC Porto fully recovered this Friday the loan securitization operation called “Dragon Finance No. 1” Sagasta Finance – STC, SA, secured by loans obtained as a result of the contract for the assignment of television broadcasting rights. Also today, a new loan securitization operation called Dragon Finance No. 2 was carried out, secured by the same loans as Dragon Finance No. 1, allowing for an additional inflow of approximately EUR 54.3 million.
These loans stem from a “contract for the transfer of rights to television broadcasting of games played for the main football team as a guest in the Primeira Liga, celebrated 26 V December 2015, between FKP SAD and PT Portugal SGPS, SA
(later transferred to Altice Picture, SARL)).”
In a statement to CMVM, SAD Porto said the refund and new operation were unanimously approved by bondholders.
(later transferred to Altice Picture, SARL)).”
The new operation would result in a “net global increase of approximately
in the amount of EUR 54,291,989.30 in relation to “Dragon Finance no. 1′”, indicates SAD under the leadership of Jorge Nuno Pinto da Costa.This net investment, the statement said, will enable SAD Porto “
pay off obligations arising as a result his activities.”
Author: Write down
Source: CM Jornal
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