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Actividades de Construcción y Servicios

May, 27th 2005

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Urbaser obtains a syndicated loan amounting to 650 million euros

Nine financial entities are underwriting the transaction

Urbaser, S.A., a company belonging to ACS Groupís services and concessions division, has entered into a syndicated loan agreement amounting to 650 million euros in order to meet its general corporate requirements, including future investment projects.

The syndicated loan, with the participation of several domestic and foreign banks and savings banks, has been directed and underwritten by nine first rate financial institutions: ABN AMRO, Banco Bilbao Vizcaya Argentaria, Banesto, Santander Central Hispano, BNP Paribas, La Caixa, Caja Madrid, Citibank, and Société Générale. The total number of participants in the operation, including the abovementioned banks is 27, meaning that the transaction was well accepted in financial markets.

The loan is for a five-year term and it will be paid back in a single instalment at maturity, with a Euribor-indexed floating interest rate. The rest of the terms and conditions are the standard market conditions for this kind of transactions.

Urbaser is the leading Spanish Company in the waste treatment sector. This company belonging to ACS Group has built or manages 56 waste treatment plants and it was recently awarded the construction and operation of the future waste treatment plant near Marseille. At present, the company treats 6.8 million tons of waste at its facilities each year, representing 34% of the approximately 20 million tons generated in Spain every year.