Sérvulo advise on Teixeira Duarte’s debt refinancing

SÉRVULO IN THE PRESS 09 Apr 2025 in Iberian Lawyer

Morais Leitão advised Novo Banco, BCP and Caixa Geral de Depósitos on the refinancing the Teixeira Duarte Group’s banks debt, consolidating an agreement that covers 95% of the company’s debt. On the other side, Teixeira Duarte Group was advised by Sérvulo & Associados. The transaction marks a significant milestone in the group’s financial restructuring, supporting its stability and sustained strategic development, states Morais Leitão.

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 Group has more than 175 companies and around 9,500 people operating in 22 countries. The group operates in six different sectors of activity: construction, concessions and services, real estate, hotels, distribution and automobiles.

On Sérvulo’s side, the team was led by Manuel Magalhães, managing partner, with the support of partners Sofia Carreiro, Teresa Pala Schwalbach, Pedro Silveira Borges, and lawyers José Guilherme Gomes, Andreea Babicean, Ana Beatriz Gonçalves, Catarina Marques da Silva, and Joana Leão Anjos. The team was also supported by Luís Monteiro Romão (solicitor services).

The Morais Leitão team involved in the transaction was led by Filipe Lowndes Marques and Cláudia Castanheira dos Santos.

Read more in Iberian Lawyer.