Fomento de Construcciones y Contratas €4.4 billion restructuring

Overview:

• Fomento de Construcciones y Contratas (FCC) has undertaken a €4.4 billion restructuring by way of a Spanish scheme of arrangement (homologación) of its refinancing agreement.
• The refinancing agreement was not supported by all the financial creditors, so it needed to be executed as a homologación.
• The homologación was filed by FCC and 40 companies in its group. FCC is a listed company on the IBEX 35 that operates in 35 countries, with over 63,000 employees.

Adam Majeed - Regional editor