RyC counsels banks on €30m TPF refinancing

Ramón y Cajal Abogados has advised Banco Santander, Bankia, Banco Sabadell, BBVA and Ibercaja on a €30 million refinancing deal with TPF Getinsa Euroestudios

The refinancing was carried out through a Framework Refinancing Agreement signed by more than 60% of the creditors, with the opening of a membership period to other entities and a subsequent agreement to apply for the Framework Agreement judicial approval for the extension of its effects to dissident entities.

Ramón y Cajal Abogados team was led by Financial partner Amado Giménez (pictured) and included Diego Gabarain and Elisa Ribas de Reyna.

TPF was advised by Garrigues Restructuring and Insolvency partner Juan Verdugo.

The closing took place at the Notary’s office in compliance with the instructions of the General Council of Notaries (CGN) due to the state of alarm decreed by the coronavirus crisis. The banks and the borrower had to sign the deal one at a time in the public notary’s office, wearing their own gloves and using their own pens, since Spanish law also requires all parties to be present for the signature.