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Are refinancing and the ICO's line of guarantees compatible?

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Following the release of the second tranche of the Spanish Official Credit Institute's (ICO) line of guarantees approved under Royal Decree-law 8/2020 in a bid to reduce the economic impact of COVID-19, their compatibility with refinancing and debt restructuring remains a significant talking point. Our experts analyse the key aspects to bear in mind.

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Are refinancing and the ICO's line of guarantees compatible?
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