Clifford Chance has advised Prosegur Cash and Prosegur Compañía de Seguridad on the restructuring of two syndicated facilities agreements with several domestic and international financial entities for a maximum aggregate amount of €300 million and €200 million, respectively.
Both agreements consist of a single tranche revolving credit facility in an aggregate amount of up to €300 million and €200 million, respectively, with an initial maturity of five years and two annual extension options up to a maximum maturity of seven years.
The signing of the two agreements entails the termination of the facilities agreements originally entered into on 10 February 2017 by Prosegur Cash and Prosegur Compañía de Seguridad, respectively, with a group of credit institutions (as subsequently amended), for the same amounts which remain undrawn and with maturity date 7 February 2026.
The funds that may be drawn down under the agreements may be used to meet the general corporate needs of the group.
The Clifford Chance team was led by counsel Jesús Quesada, together with associates Mariana Ceballos, Claudia de Olaran and Yago López from the Global Financial Markets area, with the support of senior counsel Roberto Grau on tax aspects.
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