Priego de Córdoba approves debt refinancing for Aguas de Priego

The extraordinary plenary session of the Priego de Córdoba City Council has approved financing measures for the public company Aguas de Priego to settle its outstanding debt with Aqualia.

The approved plan authorizes Aguas de Priego to secure a loan of 2,414,853.65 euros from Unicaja. This 15-year loan, featuring a variable interest rate of three-month Euribor plus 0.97 points, is intended to replace existing financing that carries a higher 5% interest rate. The municipality will provide a guarantee for the operation, with liability capped at 2,897,824.38 euros.

Ana Mérida, head of the public company, stated that the move does not constitute new debt but rather a transition to more sustainable financing terms. Mayor Juan Ramón Valdivia noted that the reduction in interest expenses would allow resources to be redirected toward other company activities. While the Popular Group supported the measure to reduce financial costs, the Socialist Group maintained its opposition.