19 December 2018
Latham & Watkins has advised Eurona Wireless Telecom, S.A. (EWT) on the restructuring of its debt and the modification of the group’s capital and corporate structure. The transaction includes an injection of liquidity, the refinancing of existing debt, and a corporate reorganization involving the introduction of a double-Luxco structure and the creation of a new perimeter below the EWT group. Under the reorganization, EWT’s satellite, Wifi, and Fixed Wireless businesses have been transferred to a newly created company, Global Satellite Technologies, S.L. The refinancing has been homologated by the Spanish Commercial Courts, extending the effects of the restructuring to dissenting financial creditors.
Eurona Wireless Telecom (EWT), is a Spanish multinational telecommunications company listed on the Alternative Stock Market (MAB). EWT operates in more than 20 countries and has more than 40,000 customers.
The Latham & Watkins team was led by London finance partner Sanjev Warna-kula-suriya and Madrid corporate partner Ignacio Gómez-Sancha, with Madrid counsel Fernando Colomina and associate Carmen Alonso.