FC Barcelona has closed a bond issuance worth €424 million, enabling the Club to refinance a significant portion of the debt related to Espai Barça — even before the men’s first team officially returns to Spotify Camp Nou on August 10.

In collaboration with Goldman Sachs, its usual financial advisors, the Club has managed to restructure a total of €424 million in debt originally due in 2028, used for the construction of the new stadium, into a new structure using the existing financial framework. This new structure will begin to be repaid in 2033 and will be fully paid off by 2050. The average cost of the refinanced amount stands at 5.19%. This transaction highlights the strong demand FC Barcelona continues to generate among financial investors, as well as the positive momentum in the Club’s financial health — reducing the risk premium to nearly half of the initial operation issued in 2023.

The Club is not only fulfilling the necessary steps to ensure a gradual and staggered repayment of the Espai Barça-related debt, as approved in the Referendum and at the Ordinary Assembly of Delegate Members but is also ahead of the originally planned refinancing timeline through this operation.

In this context, the completion of this operation further supports the recent report issued by rating agency Morningstar DBRS, which upgraded FC Barcelona’s outlook from “stable” to “positive,” demonstrating the Club’s ongoing economic recovery and its ability to meet its obligations to creditors.

A Flexible and refinanceable structure

In April 2023, the Club announced the closure of Espai Barça’s financing, ensuring the start of the Spotify Camp Nou renovation works in line with the referendum-approved criteria — without using Club assets as collateral, without mortgaging the stadium, and without any cost to members. This financing was secured from a total of 20 investors and amounted to €1.45 billion.

This financial structure, initially agreed upon, includes various tranches of 5, 7, 9, 20, and 24 years, all of which are refinanceable and flexible, and include a grace period. It is important to note that the Club will begin repaying this operation once the stadium renovation is complete, using revenues generated by the Spotify Camp Nou, which are projected to reach approximately €247 million.

Força Barça