Spanish property company Colonial has obtained a €355m refinancing of its shopping centre developing business, Riofisa.
In a note to Spain’s market regulator CNMV, Colonial said that the firm’s loan is due for payment in December 2014 but the deadline could be extended for a further two years.
Colonial bought Riofisa in 2007 for around €2bn. At the end of 2010, the company listed Riofisa as a non-core asset.
