Cuatrecasas has advised a syndicate of financial institutions on granting Tendam Brands—one of the largest European fashion groups—a sustainability-linked loan worth €90 million.
The loan, signed by Banco Sabadell, BBVA, CaixaBank, Crédit Agricole and Intesa Sanpaolo, together with the company's own funds, has helped Tendam Brands make an early repayment (four years before maturity) of the outstanding balance of the senior secured bonds from October 2022, reducing the cost of its debt by 40%. The transaction is shaping up to be a decisive step toward its imminent IPO.
The Cuatrecasas advisory team was led by our Corporate Finance lawyers Miguel Cruz Ropero and Gonzalo Terceño.
April 12, 2024
Don’t miss our content
Subscribe