Long-term loan operation agreement for the amount of 450,000.00 euros by Ontinyent City Council

Summary

The tender concerns Ontinyent City Council’s plan to secure a long-term loan of 450,000.00 euros to finance the 2026 expansion of the municipal cemetery. The loan is a capital expenditure operation with a total term of 21 years, including a one-year grace period, and 20 years of amortization on a constant capital basis, with quarterly repayments starting March 31, 2028. Interest is paid quarterly and calculated as EURIBOR at 3 months plus the offered differential, with no rounding. The prudential financial limits apply: fixed-rate maximum cost is 4.3324%, and the maximum differential for the variable-rate offer is 105.50 basis points over EURIBOR 3 months. Offers may be submitted for fixed or variable rates; the selection will be based on total effective cost and other financial conditions and risk. The process requires bidder declarations and compliance with prudence rules, and the contract will be concluded with the selected financial institution.