DLA Piper advises on refinancing of Valencia Club de Fútbol
DLA Piper has advised a consortium of institutional investors, including Goldman Sachs as structuring and placement agent, on a financing deal for Valencia Club de Fútbol. This strategic move is primarily aimed at reinforcing the club’s financial stability, liquidity and solvency in the short, medium and long term, while supporting its ambitious growth plans, notably the completion of the Nou Mestalla project.
The financing package includes a long-term corporate facility of EUR121 million and a short-term bridging loan facility of EUR65 million. The short-term bridge financing with Goldman Sachs acting directly as the creditor, will allow the club to advance and accelerate its strategic roadmap. This bridge loan facility is anticipated to be subsequently refinanced by the Nou Mestalla Stadium Project financing, which is currently in progress and is expected to be completed in the coming months.
These instruments have enabled the Club to fully refinance its previous debt, obtaining greater flexibility and capacity to meet its working capital needs, and are backed by qualified professional investors of the highest calibre in terms of volume and institutional reputation (mainly insurance companies, pension funds and financial institutions), all advised by DLA Piper in the context of this financing transaction. This financial boost will enable the club to achieve its ambitious strategic goal of becoming a leading global sporting institution, reinforcing its credibility and growth potential and allowing it to resume the Nou Mestalla project.
The multi-jurisdictional team was led by Charlotte Lewis-Williams, and Jesús Zapata partners in DLA Piper’s Finance practice. They were supported by Tony Lopez (US qualified partner from the firm’s London office, Finance), Andrés Lorrio (partner, Corporate), María Alonso (counsel, Tax), Zander Rawlins and Alberto Rubio (both senior associates, Finance), Simran Bal, Ben Lumley and Sara Espina (all associates, Finance), and Diego Sánchez (associate, Corporate).
