Morais Leitão advised the Novo Banco, BCP and Caixa Geral de Depósitos banks on the refinancing of the Teixeira Duarte Group's bank debt, consolidating an agreement that covers 95% of the company's debt. This operation represents a significant milestone in the financial context of the Teixeira Duarte Group, promoting the financial stability and sustained strategic development of one of the country's largest construction companies.
The agreement resulted in the signing of two new financing contracts, totalling 654 million euros, and the establishment of a new line of bank guarantees, with a maximum limit of 190 million euros. The agreement also stipulates that one of the tranches of new financing will be fully amortised through the delivery of shares in five collective investment companies to be converted from the group's real estate companies later this year.
Having started its activity in 1921, Teixeira Duarte is today the leader of one of the largest Portuguese economic groups. With more than 175 companies and around 9,500 people operating in 22 countries, the Teixeira Duarte Group is present in six different sectors of activity: construction, concessions and services, real estate, hotels, distribution and automobiles.
Teixeira Duarte was advised by Sérvulo & Associados, with a team led by Manuel Magalhães.
