The operation, which allowed the loan to be settled eleven years ahead of its 2037 maturity date, has resulted in an estimated saving of 924,174 euros in interest. This was achieved due to the absence of early repayment penalties agreed upon with the banking institution.
The initial loan was used to meet financial obligations arising from the expropriations of the Plaza Negra and the David Jiménez Silva Sports Complex in Arguineguín. Payments were originally structured as quarterly installments with a variable interest rate.
The debt was cleared through three major early repayments made between 2024 and 2026. According to the local government, strong economic results in recent years were the key factor in enabling the full cancellation of the loan within just four years.
