Spain-based long steel producer Celsa Group has completed a €1.8 billion refinancing, marking the final step in the financial and operational transformation the company began in 2023, according to media reports. The transaction includes €600 million in HoldCo PIK notes, co-led by funds managed by Strategic Value Partners (SVP), and a €1.2 billion issuance of senior secured bonds, strengthening Celsa’s capital structure as the European steel sector prepares for major regulatory changes.
In announcing the refinancing, Jordi Cazorla, CEO, stated that completing the debt restructuring “marks the final milestone of the transformation we began in 2023”, noting that Celsa is now positioned to benefit from positive market momentum and upcoming regulatory developments. He highlighted the crucial role played by shareholders and financing partners, who have contributed over €900 million in equity since 2022.
With its refinancing now complete, Celsa enters the next phase with improved financial flexibility, a strengthened balance sheet and a competitive position aligned with Europe’s transition to low-carbon steelmaking.