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Financial institutions have offered the City a total of 119 million euros, which is 140% more than requested.

This operation is to be performed also in a much more favorable than those offered in 2013, thanks to the improvement of the economic and financial soundness of the Consistory conditions.

Thus, the nominal rates offered vary between 2,539% and 4,799%.

After analyzing the ten proposals from a total of eight financial institutions, the Governing Board has awarded the requested amount, 50 million euros, the five who offered the most advantageous conditions for the interests of the citizens of Murcia: Bank Santander (20 million), Bankinter (5 million), Bankia (10 million), La Caixa (10 million) and Banco Mare Nostrum (5 million), about nominal interest rates have finally been awarded 2,539% between the minimum and maximum 3,449%.

These rates have exceeded expectations of the government team of the City, as they are over 50% lower than those obtained in the previous operation of Treasury, which took place a year ago, in February 2013, and in which were awarded a total of 18.5 million euros at a nominal rates between 5.25% and 6.50%.

Thanks to these credit lines available liquidity City Council allowing timely payment to suppliers.

Source: Ayuntamiento de Murcia