Freshfields Bruckhaus Deringer has advised a co-ordinating committee of senior lenders (consisting of BBVA, RBS, Société Générale, Mizuho and BNP Paribas) on the fully consensual financial restructuring of FCC Environment group ("FCCE"), a UK waste and renewable energy business.

In addition to an extension of FCCE's £381m term facilities, the deal included the introduction of a £30m new money revolving facility, provided by certain of the group's senior lenders, and a £30m asset-backed facility.

FCCE also received support from its ultimate parent, Fomento de Construcciones y Contratas S.A., a Spanish listed entity which is currently undergoing its own separate refinancing.

The deal received 100% consent from the group's senior lenders, thereby avoiding the need for a UK scheme of arrangement.

The Freshfields team advising on the deal was led by restructuring and insolvency partners Ryan Beckwith in London and Iñaki Gabilondo in Madrid, alongside London banking partner Peter Hall.