CC counsels banks on syndicated guarantee facility agreement granted to TSK

Clifford Chance has advised Banco Santander, S.A. and a pool of banks on a €520 million syndicated guarantee facility agreement with a CESCE (Spanish ECA) tranche granted to TSK Electrónica y Electricidad, S.A.

A syndicate of 9 Spanish financial institutions formed by Banco Santander, Caixabank, ICO, BBVA, Sabadell, Abanca, Cajamar, Bankinter and Unicaja, coordinated by Santander, have granted a committed syndicated line of guarantees to the Gijón-based engineering company TSK for an amount of €520 million euros and a term of three years.

TSK will use these resources to deploy its announced 2021-2024 strategic plan, focused on the decarbonisation of industry, renewable energies, energy storage and digitalisation.

Clifford Chance, PwC and Alantra have participated in the transaction as advisors to the parties and Sanne Agensynd will act as agent.

The Clifford Chance team was led by partner José Guardo (pictured left), supported by Global Financial Markets associates Juan Puras (pictured right) and Francisco Ruiz.

Desire Vidal