Banco Sabadell Announces Major Loan Deal with Acerinox

Banco de Sabadell (ES:SAB) has released an update.

Banco Sabadell has disclosed a related-party transaction with Acerinox, S.A. involving a bilateral loan of 150 million euros, among other credit operations, which in total exceed 2.5% of the bank’s turnover from the latest annual accounts. These transactions include multi-company credit policies and are part of a series of financial dealings that have been approved by the bank’s Board of Directors, with interest rate details withheld to protect shareholder interests.

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