Evergreen Legal advises Masmovil on €1.7 billion loan

Spanish law firm Evergreen Legal advised Masmovil Group on the launch of a cov-lite term loan B (TLB), with a total value of €1.7 billion.

Masmovil was also advised by Fried Frank.

Goldman Sachs and BNP Paribas served as global co-ordinators on a €1.45 billion TLB to finance the proposed transaction, as well as €250 million of capex and revolving facilities.

Barclays, BBVA, JPMorgan, Santander and Societe Generale CIB also served as joint book runners and mandated lead arrangers.

The proceeds of the TLB will be used to repurchase the company’s €883 million convertible bonds from Providence Equity Partners (Providence) and to refinance its existing €890 million bank debt.

The Evergreen Legal team was led by banking partner Alberto Campo Caballero (pictured) and included associates Josefina Ortells and María Heredero.