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SAECA and the regional Government of La Rioja sign a new agreement for promoting the financing of farming and stockbreeding facilities

SAECA and the regional Government of La Rioja sign a new agreement for promoting the financing of farming and stockbreeding facilities

11/05/2015 - Madrid
Press release SAECA

The Sociedad Anónima de Caución Agraria (SAECA) and the Government of La Rioja, through its Department for Agriculture, Stockbreeding and the Environment have concluded today a new collaboration agreement. Its goal is providing the holders of the farming and stockbreeding facilities in this region the guarantees needed for having access to the loans intended for financing investments for the setup, maintenance, or improvement of the above mentioned facilities and for working capital in the case of the stockbreeding facilities.

The Head of the Department for Agriculture, Stockbreeding and the Environment of the Government of La Rioja, Mr. Iñigo Nagore and SAECA’s Chairman, Mr. José Ramón Bujanda, signed this agreement, as a result of which SAECA will provide the guarantees and bonds needed for the loans granted by state-owned and private financial institutions which will be applied to financing investments or for working capital needs. These guarantees and bonds may be requested by the natural or legal persons who are the holders of a farming or stockbreeding facility located at La Rioja, after the conclusion of the feasibility study of the deal.

The Government of La Rioja will finance part of the costs resulting from the conclusion of these guarantees during 2015. Thus, it will compensate the opening and feasibility fee up to a maximum of 50 basis points, and the management fee of the first year, for up to 75 basis points.

The maximum amounts on which will be applied the bonuses to SAECA on the guarantees’ costs reach, in the case of investments, up to 180,000 €, in case that the facility’s holder is a natural person, and up to 240,000 € in the case that the facility’s holder is a legal person.

As for the guarantees for loans for the working capital, which is limited to stockbreeders, the maximum costs which can benefit from the bonuses apply, in the case that the facility’s holder is a natural person, to up to 45,000 €, while in the case that they are legal persons, to up to 60,000 €. Furthermore, the maximum amount of the loan to which applies the bonus to SAECA will be also limited by the real size of the stockbreeding facility, on the basis of a scale included in the Agreement.

SAECA and Grupo SEPI

SAECA belongs to Grupo SEPI, a corporate holding which includes a total of 16 state-owned companies in which it has direct, majority shareholding participations, with a final workforce of more than 74,000 professionals in 2013; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further ten companies, and indirect shareholdings in more than one hundred companies.

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