Celsa completes financial restructuring process

The Spanish group Celsa is completing its financial restructuring process, according to Cinco Días.

The company has closed a €1.2 billion five-year bond issue. At the same time, the company’s shareholders ratified a capital injection (€200 million) and a subordinated loan (€600 million) last week.

With these steps, the company has sufficient resources to fully refinance its liabilities, which amount to almost €2 billion. It also includes a €200 million revolving credit line available to ensure the liquidity of daily operations.

In June last year, it became known that La Caixa’s investment arm, holding company Criteria Caixa, had abandoned its plans to acquire a stake in the steel group. Earlier, in April, Criteria announced its intention to acquire 20% of the company through a capital increase. After that, Celsa decided not to continue its search for a partner.

At the end of 2024, the steel group had revenues of €3.36 billion and a net loss of €281 million for the period due to debt that the company had incurred under its previous owner.

It should be noted that Celsa expects a more favorable environment for the steel sector in 2026 due to increased demand from the construction sector and the introduction of protective measures and tariffs announced by the European Commission.

As reported by GMK Center, in the spring of this year, the company announced that it had closed a deal to sell 100% of its subsidiaries in the UK and Northern Europe to the Czech investment group Sev.en Global Investments. The sale of assets was announced in November 2024, and the deal was ratified on April 11, 2025. The proceeds were used entirely to reduce the group’s debt.