Portal de San Javier
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The City of San Javier save 700,000 euros in interest payments by refinancing the loan was signed with the Fund for the Financing of Supplier Payments to be canceled to refinance the loan with a private entity to 1.17% interest very distant from the original 5.8% has now been reduced to 4%.
This was explained by the mayor of San Javier, Juan Martínez Pastor in the plenary session today where unanimously approved the operation that will now receive approval from the Ministry of Finance and Public Administration, which as stated the Mayor "will be positive because we meet every the applicable requirements in these cases. "
Juan Martínez Pastor said that this is good news for the local economy and recalled that the operation began to sign the City of San Javier a loan of 6.2 million Financing Fund to pay all suppliers, which is 2 million was returned to the surplus of 2012, so it is 4 million.
Pastor Martinez explained that the initial interest of the Fund, is down 5.8% to 4% today, although the City of San Javier is able to benefit from a new law that allows refinance that loan with other entities, " so that after attending others have opted for the best deal that is 1.09% over Euribor, which is 1.17% "
Source: Ayuntamiento de San Javier
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