A group of banks representing 20% of a EUR4.9-billion ($6.6 billion) syndicated loan issued to Sacyr Vallehermoso SA (SYV.MC) to finance the purchase of a 20% stake in Repsol YPF SA (REP) are unwilling to refinance the builder's loans due in December, reports Expansion in its Thursday Internet edition.

Banco Santander SA (STD), which led the syndicated loan, is now looking for other financial entities willing to put in about EUR1 billion and replace those wanting out, the paper adds, citing people close to the negotiations.

Among those not willing to roll Sacyr's debt over are Citigroup (C), with EUR500 million and ING Bank NV (INK.YY), with EUR300 million. Royal Bank of Scotland Group (RBS) and Portugal's Banco BPI (BPI.LB), Banco Comercial Portugues (BCP.LB) and Banco Espirito Santo (BES.LB) are also considering not refinancing Sacyr's debt.

-Dow Jones Newswires; enza.tedesco@dowjones.com