23 February 2010

Freshfields advises Colonial on €4,960m debt restructuring

International law firm Freshfields Bruckhaus Deringer LLP has advised Spanish real estate company Inmobiliaria Colonial on an agreement for restructuring its €4,960m debt.

The restructuring agreement falls within a feasibility plan designed by Colonial’s managing team and validated by an independent expert. Colonial’s board of directors will call an extraordinary general meeting of shareholders for approving the restructuring agreement, which includes a capital increase and the transfer of its land activity and developments division to an affiliate.

Partners Jeffrey Rubinoff (finance, London) and David Franco (corporate, Madrid) and of counsel Fernando Bautista (finance, Madrid) led the Freshfields team, which also included associates Paul Ingram (finance, Madrid), Catherine Park (finance, London), Jesús López-Bragado (finance, Madrid), Alfonso de Marcos (corporate, Madrid) and María Lérida (finance, Madrid).

Jeffrey Rubinoff commented: "We drew on a combination of our domestic Spanish expertise and internal banking and restructuring capability to work with Colonial to achieve a comprehensive restructuring of both its syndicated facilities and bi-lateral borrowing arrangements."

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