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Wednesday, April 17, 2024

Kepler-Karst advises on first ICO-guarenteed restructuring

Kepler-Karst, specialised in Restructuring and Insolvency, has advised Interfronteras Área de Servicios S.L. on the first known restructuring operation under the umbrella of the reform of the Consolidated Text of the Insolvency Law, in which public guarantees are involved

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The restructuring plan designed by Kepler-Karst experts Rodrigo Olivares-Caminal, of counsel, and Eduardo Frutos, partner, together with the advisory firms of the financial institutions, AFI and BDO, involves restructuring the financial debt in order to accommodate it to current and future cash generation.

The key to the agreement reached is a repayment schedule with no write-offs, which, in addition to being extended over time, allows for a smaller repayment during the first years, leaving a significant part for the final years. In addition, the loans with ICO guarantee that the company had requested, and which in this case had not been fully or partially executed, maintain their guarantee.

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