Overview

• The Generalitat replaced €3.5 billion of its 2023 FLA borrowing with seven long‑term loans from six Spanish banks.
• The new financing carries a 2.951% average rate versus 3.497% on the FLA loan, cutting the cost by 54.6 basis points.
• The economy department projects interest savings of about €127.6 million through 2035, including roughly €19 million less to pay next year.
• The refinancing was conducted between May and July after the Council of Ministers authorized up to €3.5 billion in long‑term borrowing in May.
• The deal uses bank loans rather than public bond issuance, the lenders’ names remain confidential, and officials flag issuing new debt directly with banks as a potential next step to normalize funding.