The Board of Directors of Real Madrid, held today, Friday April 12, 2019, having obtained previous authorization from the Delegate Members at their Ordinary Assembly held on September 23 2018, has approved the completion of the financing for the remodeling of Santiago Bernabéu Stadium for a total amount ofThe financing has been structured through a loan with three tranches –July 2019, July 2020 and July 2021–, according to the payment schedule foreseen for the completion of the works. Furthermore,for the principal of the loan has been agreed, which will result inTheby the renovation willbut will alsoThis financing will be the stepping-stone towards achieving an authentic architectural innovation for our stadium, located in the heart of the city, improving the urban environment. The new, avant-garde Santiago Bernabéu Stadium will become a universal icon, a reference for 21st century stadiums around the globe. It will be more modern, more comfortable, safer and designed for entertainment with innovating shops and the latest technological developments.The Museum will be significantly bigger and a new Interactive Museum will be created with cutting-edge virtual reality technology. The Tour of the Bernabéu experience will be improved with a new perimetric panoramic tour around the whole stadium, with additional leisure and dining spots. It will undoubtedly become a major tourist attraction for all those who visit Madrid.As of the date of closing, the financing structure has obtained a private rating, Investment Grade, from two world-renowned rating agencies, Fitch Ratings and DBRS.Key Capital Partners acted as the financial advisor and coordinator of the financing project for Real Madrid. The financing has been structured by J.P Morgan and Bank of America Merrill Lynch with the collaboration of Banco Santander and Société Générale. CaixaBank will be the agent in the transaction.