Eroski €3 billion financial restructuring

Overview:

• Eroski—a Spanish supermarket chain—has undergone its largest restructuring to date at €3 billion.
• The deal included the unification and restatement of two separate syndicated facilities and the restructuring of numerous recourses arising from several of Eroski Group’s real estate projects.
• The restructuring of the security package encompassed several floating real estate mortgages, mortgages over trademarks and pledges over shares, credit rights and bank accounts.
• It also included a commitment to restructure the securities issued by Eroski amounting to over €600 million, which was completed in January 2016. 

Adam Majeed - Regional editor