Spain's El Corte Ingles to restructure 5 bln euros

MADRID Mon May 20, 2013 12:28pm EDT

MADRID May 20 (Reuters) - Spain's largest department store, privately held El Corte Ingles, said on Monday it had started talks to restructure debt totalling 5 billion euros ($6.43 billion).

In a statement, the chain said the new debt could take the form of a syndicated loan and could also involve securitising consumer loans from its finance arm.

The bank Morgan Stanley is leading the refinancing talks, a financial source said.

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