{"id":42311,"date":"2014-04-07T00:00:00","date_gmt":"2014-04-06T22:00:00","guid":{"rendered":"https:\/\/techma.bakertilly.es\/impacto-de-la-modificacion-de-la-ley-de-refinanciacion-reestructuracion-de-deuda\/"},"modified":"2025-03-12T11:24:44","modified_gmt":"2025-03-12T10:24:44","slug":"impacto-de-la-modificacion-de-la-ley-de-refinanciacion-reestructuracion-de-deuda","status":"publish","type":"post","link":"https:\/\/techma.bakertilly.es\/en\/impacto-de-la-modificacion-de-la-ley-de-refinanciacion-reestructuracion-de-deuda\/","title":{"rendered":"Impact of the amendment to the law on debt refinancing and debt restructuring"},"content":{"rendered":"
On 7 March last, a series of measures were approved in relation to the refinancing and restructuring<\/strong>\u00a0 debt. Among the measures introduced, we would like to analyse those that may have an impact on debt strategies. investment<\/strong> and sale of mortgage debt assets.<\/span><\/address>\n

<\/p>\n

 <\/p>\n

Syndicated loans<\/strong><\/span><\/p>\n

One of the main changes in this area is the need for a qualified majority (75%) to approve debt refinancing agreements. This avoids the blocking of minority positions with less than 25%.<\/span><\/p>\n

This measure means that it is no longer possible to block other shareholders in the renegotiation process, but at the same time funds holding 75% or more have more flexibility.<\/span><\/p>\n

Refinancing agreement<\/strong><\/span><\/p>\n

Refinancing agreements on deferral of payments for a period of not more than 5 years or conversion into participating loans, which are approved by 65% of the mortgage creditors, will bind the remaining 35%. If this figure reaches 80%, the remaining 20% may be obliged to accept agreements for debt capitalisation or debt cancellation.<\/span><\/p>\n

This change makes it necessary to carry out a detailed analysis of a company's financial creditors when one is acquiring a syndicated debt ticket.<\/span><\/p>\n

Bank of Spain<\/strong><\/span><\/p>\n

The Bank of Spain Act aims to incentivise Spanish banks to take measures to recapitalise their debts by classifying post-recapitalisation loans as \"normal\" if a company's business plan can allow for debt repayments in the normal course of business. This reduces provisions for underperforming debts, once the debt has been restructured.<\/span><\/p>\n

\"In our view, these measures could encourage some Spanish banks to agree to recapitalisation solutions or to convert debt into equity loans, rather than selling their recovery rights at a hefty loss. We believe this could be applied immediately to hotel chains with operational business plans that are viable in the short term,\" analyses Diego Gutierrez.<\/span>e\u00a0Abra Invest.<\/a><\/span><\/p>\n

Other posts that may interest you<\/span><\/strong><\/p>\n

Direct lending: alternative or complement to traditional financing?<\/span><\/span><\/a><\/p>\n

The food sector: investment for troubled companies<\/span><\/a><\/span><\/p>\n

The winemaking sector needs to get its act together and it has already started<\/span><\/a><\/span><\/p>\n

If you want to know more or if you think we can help you, do not hesitate to contact us.<\/span><\/strong><\/p>","protected":false},"excerpt":{"rendered":"

On 7 March, a series of measures were approved in relation to debt refinancing and restructuring. Among the measures introduced, we would like to analyse those that may have an effect on investment strategies and the sale of mortgage debt assets.<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1750],"tags":[161,209],"sectores":[],"tipo-contenido":[2260],"class_list":["post-42311","post","type-post","status-publish","format-standard","hentry","category-financiacion-sectorial","tag-financiacion","tag-inversion","tipo-contenido-noticias"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/42311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/comments?post=42311"}],"version-history":[{"count":0,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/42311\/revisions"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=42311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/categories?post=42311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=42311"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=42311"},{"taxonomy":"tipo-contenido","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tipo-contenido?post=42311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}