Uría Menéndez advises a syndicate of lenders in amending the financing of Grupo Zena

Uría Menéndez advised ING Bank NV, London Branch, acting as agent, and a syndicate of lenders who unanimously approved the restructuring of the EUR 120,000,000 financing agreement executed on 2 January, 2007 between Food Service Project, S.L., ING Bank NV, London Branch and other entities of Grupo Zena as borrowers and guarantors. Under the amended agreement, the maturity date of certain tranches and their repayment calendars have been extended, the drawdown period of another tranche has been extended and the allowed limits of Capex have been raised, among other adjustments to the financing agreement.

Grupo Zena is a leading multi-brand company in the Spanish catering and retail sector. It owns seven renowned commercial brands covering all the market segments in the sector: Foster’s Hollywood, Domino’s Pizza, Burger King, Cañas & Tapas, Il Tempietto, La Vaca Argentina and Nostrus. It operates from three different perspectives since, not only does it manage its own brands, but it is also a franchiser and franchisee of international brands. Grupo Zena has over 490 restaurants in Spain and employs 7,000 workers. Its revenues exceed EUR 400 million per year.

The amended agreement was executed in Madrid on 30 November, 2012. The Uría Menéndez team involved in the operation was led by Ángel Pérez López (partner, Finance, Madrid), who was assisted by Blanca Arlabán Gabeiras (senior associate, Finance, Madrid) and Almudena de Medina de Lacalle (junior associate, Finance, Madrid).

Grupo Zena was advised by Garrigues through Partners Mónica Martín de Vidales and Gonzalo Rivera and associate Xabier Urtiaga.