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[BUSINESS] · Spain · 5 sources

Part of situation: Neinor Homes acquisition and restructuring of Aedas Homes (2 clusters)

Neinor Homes targets debt reduction and new Orion co-investment

Neinor Homes Aedas Homes acquisition Apollo financing Orion Capital Managers real estate debt reduction

Neinor Homes has announced a strategic plan to reduce its net debt by approximately 500 to 600 million euros by 2028. A primary objective of this deleveraging process is to liquidate the financing provided by Apollo, which was used to acquire Aedas Homes.

Apollo previously provided roughly 750 million euros through a senior secured bond structure to fund the acquisition and refinance portions of Aedas's liabilities. This specific financing carries a cost exceeding 7%, calculated at three times the Euribor plus 5.25%.

Additionally, Neinor Homes has entered into a new co-investment agreement with Orion Capital Managers worth approximately 110.9 million euros. This deal focuses on eight land plots acquired through Aedas, which have the capacity to develop 1,097 homes. Under the terms of these joint ventures, Neinor sells 90% of the land to Orion while retaining a 10% stake and acting as the project manager for a success fee.

Entities

AEDAS Homes · Apollo · Neinor Homes · Orion Capital Managers

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

SECTOR INMOBILIARIO | Neinor liquidará la financiación de Apollo para la compra de Aedas y firma otra coinversión de 100 millones con Orion [www.lacronicabadajoz.com]
SECTOR INMOBILIARIO | Neinor liquidará la financiación de Apollo para la compra de Aedas y firma otra coinversión de 100 millones con Orion [www.informacion.es]
SECTOR INMOBILIARIO | Neinor liquidará la financiación de Apollo para la compra de Aedas y firma otra coinversión de 100 millones con Orion [www.elcorreoweb.es]
SECTOR INMOBILIARIO | Neinor liquidará la financiación de Apollo para la compra de Aedas y firma otra coinversión de 100 millones con Orion [www.elperiodicoextremadura.com]
SECTOR INMOBILIARIO | Neinor liquidará la financiación de Apollo para la compra de Aedas y firma otra coinversión de 100 millones con Orion [www.levante-emv.com]