DLA Piper advises Hanover Investment on the restructuring of its EUR110 million financial debt

DLA Piper has advised Hanover Investment and Inmark Socimi on a strategic restructuring of their EUR110 million financial debt, which included the reduction of senior debt with the incorporation of new mezzanine financing worth EUR22 million.

The DLA Piper team leading the transaction was composed of Juan Verdugo, partner in charge of Restructuring, Marta Clemente, legal director, and Víctor Sanjuan, associate. The team worked closely with the advisors to the senior financial institutions and the new lender, successfully closing the restructuring within the timeframe proposed by the senior lenders.

In the words of Juan Verdugo: “We are very pleased to have helped Hanover adjust its balance sheet in record time, coordinating perfectly with the new lender and the banks, which have shown flexibility and full commitment”.