GA_P advises Celsa on the refinancing of its €2.2bn debt

Gómez-Acebo & Pombo has advised Grupo Celsa, one of Europe’s leading steel producers, on the refinancing of its debt for a total amount of €2.2bn, in a multi-jurisdictional transaction comprising, among other instruments, an inaugural issuance of €1.2bn high-yield green bonds, a super senior revolving credit facility of up to €200m, a €600m subordinated PIK loan and a €200m capital increase.

Gómez-Acebo & Pombo previously advised on the restructuring of Grupo Celsa in 2023, which culminated in the court approval of the first restructuring plan sanctioned following the reform of the consolidated text of the Spanish Insolvency Act approved by Law 16/2022, of 5 September.

The GA_P team was led by Ferran Foix, together with Mónica Contreras, Irene Medina, Carmelo Morales and Victoria González, all from the Banking and Finance team, in collaboration with Miguel Ángel Melero and Víctor Villaverde from the Corporate team.

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