GLAS supports €500m refinancing for Eroski

GLAS is pleased to announce its role in the successful completion of a €500m refinancing transaction for Eroski. The deal, signed and closed on 2 December 2025, forms part of a wider €1 billion refinancing package designed to reinforce the cooperative’s financial resilience and long-term sustainability.

The transaction included the issuance of €500 million in senior secured notes, alongside a new syndicated Term Loan A, revolving credit facility, and working capital framework agreement.

The GLAS team in Spain acted as Security Agent, facilitating the smooth execution of the refinancing and safeguarding stakeholder interests across this complex, multi‑layered structure.

The refinancing provides Eroski with enhanced flexibility to pursue its strategic objectives while consolidating a more efficient and sustainable financial model.

About Eroski

Eroski is one of Spain’s leading retail cooperatives, operating supermarkets, hypermarkets, and specialist stores nationwide. Guided by cooperative values, Eroski is committed to offering quality products, promoting sustainability, and supporting local communities.

About GLAS

GLAS was established in 2011 as an independent provider of institutional debt administration services. The company was originally created to provide the market a willing participant in complex loan restructuring transactions where many large institutions are reluctant to take swift and cooperative action. It offers a wide range of administration services developed specifically for the debt market.

GLAS is recognised as the premier independent, non-creditor, conflict-free provider of loan agency and bond trustee services, with excess of $750bn of assets under administration on a daily basis. For more information, contact media@glas.agency.