{"id":11654,"date":"2025-11-12T16:59:54","date_gmt":"2025-11-12T16:59:54","guid":{"rendered":"https:\/\/www.keplerkarst.com\/la-liquidez-de-33-000-millones-blindada-por-el-ico-en-la-pandemia-que-expira-en-2028-complica-las-reestructuraciones\/"},"modified":"2025-11-12T17:13:38","modified_gmt":"2025-11-12T17:13:38","slug":"the-liquidity-of-33-billion-guaranteed-by-the-ico-during-the-pandemic-set-to-expire-in-2028-complicates-restructurings","status":"publish","type":"post","link":"https:\/\/www.keplerkarst.com\/en\/the-liquidity-of-33-billion-guaranteed-by-the-ico-during-the-pandemic-set-to-expire-in-2028-complicates-restructurings\/","title":{"rendered":"The liquidity of \u20ac33 billion guaranteed by the ICO during the pandemic, set to expire in 2028, complicates restructurings"},"content":{"rendered":"\n<p>The \u20ac33 billion in ICO-backed loans expiring in 2028\u00a0have become one of the main challenges for corporate restructurings\u00a0in Spain.\u00a0 The inability to extend these maturities without express authorisation from the Spanish Tax Agency (AEAT)\u00a0is complicating many refinancing and restructuring processes, particularly for companies with high post-pandemic debt exposure.<\/p>\n\n\n\n<p>As reported by Cinco D\u00edas, law firms specialising in restructuring are exploring alternative legal mechanisms within the insolvency framework\u00a0to achieve sustainable agreements without losing the public guarantee \u2014 a test for both the flexibility and effectiveness of the current system.<\/p>\n\n\n\n<p>In this context, Davinia S\u00e1nchez, Managing Partner at Kepler-Karst law Firm, and Malena Vila, Associate in the Corporate Department, note that \u201cthe remaining debt tends to be concentrated in the most vulnerable companies.\u201d They add that the true impact of the pandemic \u201cis no longer measured by the volume of credit granted, but by the actual ability of exposed businesses to repay it.\u201d<\/p>\n\n\n\n<p>Read de full article <a href=\"https:\/\/cincodias.elpais.com\/companias\/2025-11-12\/la-liquidez-de-33000-millones-blindada-por-el-ico-en-la-pandemia-que-expira-en-2028-complica-las-reestructuraciones.html\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/p>\n\n\n\n<p>Read the Spanish article <a href=\"https:\/\/www.keplerkarst.com\/la-liquidez-de-33-000-millones-blindada-por-el-ico-en-la-pandemia-que-expira-en-2028-complica-las-reestructuraciones\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The \u20ac33 billion in ICO-backed loans expiring in 2028\u00a0have become one of the main challenges for corporate restructurings\u00a0in Spain.\u00a0 The inability to extend these maturities without express authorisation from the Spanish Tax Agency (AEAT)\u00a0is complicating many refinancing and restructuring processes, particularly for companies with high post-pandemic debt exposure. As reported by Cinco D\u00edas, law firms [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":""},"categories":[848,864,755],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The liquidity of \u20ac33 billion guaranteed by the ICO during the pandemic, set to expire in 2028, complicates restructurings<\/title>\n<meta name=\"description\" content=\"The \u20ac33 billion in ICO-backed loans expiring in 2028\u00a0have become one of the main challenges for corporate restructurings\u00a0in Spain.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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