International law firm Watson Farley & Williams (“WFW”) has successfully advised a syndicate of banks led by Bankia S.A. (“Bankia”) on the €50m refinancing of group Grupo Forus (“Forus”), which manages municipal sport facilities in Madrid, Segovia, Valencia, Alicante and Las Palmas.

The refinancing will enable Forus to implement an ambitious expansion plan over the next five years, based on an organised growth policy and high quality standards.

The transaction was structured and led by Bankia, with Ibercaja Banco S.A., Banco Cooperativo Español, S.A., Banco de Sabadell, S.A., with Banco Mare Nostum, S.A. and Banco de Caja de España de Inversiones, Salamanca y Soria, S.A. also members of the syndicate.

The WFW Madrid team advising on the transaction was led by Rodrigo Berasategui, partner and Head of WFW Madrid’s Banking & Finance group, assisted by senior associate Jose María Anarte and associate Juan Vicente Barquilla.

Rodrigo commented: “We are delighted to have advised Bankia and the syndicate on both the corporate and financial aspects of a transaction whose successful closing will help Forus optimise its financial resources. This deal demonstrates our expertise in regulatory and public procurement matters, as well as demonstrating our strong reputation in the refinancing sector”.

Forus were advised by Deloitte.