Michael Immordino | White & Case LLP International Law Firm, Global Law Practice
Michael Immordino
Michael Immordino

Michael Immordino

Partner, London, Milan

T +44 20 7532 1399

T +39 020 068 8310

E michael.immordino@whitecase.com

“Michael is one of the most experienced capital markets partners, with a wealth of experience in equity and debt. He is unanimously acknowledged as a star of the market, obtaining fantastic feedback across the board.” Clients enthuse: “Technically speaking, he is among the top. What sets him apart is that the clients like him: he is also the best at fully understanding the needs of issuers. His commercial expertise really sets him apart.”

Chambers Global 2014

Overview

Michael Immordino is recognised as a top-rated lawyer with significant knowledge and experience in corporate finance, mergers and acquisitions and general corporate law throughout Europe. His practice is based jointly in London and Milan.

He is frequently called upon to work with companies and investment banks, especially in connection with complex, international M&A and securities transactions.

Michael's extensive capital markets experience covers advising investment banks and issuers in both public and private equity and debt offerings (including SEC registered, Rule 144A and Regulation S transactions). In the DCM area he has significant experience in high yields, Eurobonds, covenanted Eurobonds, Euro Private Placements and US Private Placements. In the ECM area he has advised on a broad range of IPOs, secondary offerings and block trades. He has acted as counsel in numerous offerings of Italian and Spanish companies, covering most industry and financial sectors.

Michael is an innovative lawyer with an ability to lead pioneering work on behalf of his clients. He has worked on many "first time" deals in the international markets for Italian companies. In addition, Michael played a key role in the process which brought about the approval of the reform in Italy, which aligned rules so that private companies can issue bonds in a manner previously applicable only to issuances by public listed companies.

Michael is ranked in Band 1 in Debt Capital Markets by Chambers Global 2015 and as a "star," "US/UK qualified expert" by Chambers Europe 2015. He is also recognized as leading lawyer by The Legal 500 and by IFLR 1000, 2015 editions. TopLegal named him "Finance Lawyer of the Year" in 2013 and in 2011. According to Chambers Global 2015, clients appreciate his capacity to co-ordinate his team and his relationship skills, with one noting: "He knows all the financial players in Milan." According to Chambers Global 2014, Michael is "one of the most experienced capital markets partners, with a wealth of experience in equity and debt. He is unanimously acknowledged as a star of the market, obtaining fantastic feedback across the board." As reported by The Legal500 2015, Michael has "excellent knowledge of US capital increase transactions" and he is recommended in Corporate and M&A and Banking & Finance by the same publication.

His investment banking clients include Bank of America Merrill Lynch, Banca IMI, Barclays Capital, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, JP Morgan, Mediobanca, Morgan Stanley and UniCredit. Notable corporate clients include Aeroporti di Roma, Amplifon, Ariston Thermo, Atlantia, Autogrill, Barilla, Coeclerici, Corporación América, Cremonini, De' Longhi, Edizione Holding, Farmafactoring, Gamenet, GTECH, IMA, Intesa Sanpaolo, Italiaonline, Kedrion, Kiko, Lottomatica, MARR, Piaggio, Salini Impregilo, SEA Aeroporti di Milano, and Wind.

Michael often heads up teams of the Firm's lawyers in cross-border mergers and acquisitions transactions, including public and private negotiated acquisitions. Clients who seek his counsel in this area include companies, financial advisers and private equity funds.

Bars and Courts

  • New York State Bar
  • England and Wales (Registered Foreign Lawyer)

Education

  • JD (Juris Doctor), Duke University School of Law
  • BA, Colgate University

Languages

  • English
  • Italian
  • Spanish
  • French

Experience

GTECH's US$5 billion senior secured notes issue, 2015

Michael led the team that advised GTECH S.p.A. on its issuance of a series of senior secured notes denominated in US$3.2 billion and €1.6 billion equivalent in aggregate to approximately US$5 billion.

Intesa Sanpaolo's US$ funding program and Yankee bond issuances under the Programme, 2014

Michael regularly advises Italian banking group Intesa Sanpaolo S.p.A. on the annual update of its US$25 billion funding program. He also represented Intesa Sanpaolo on several Yankee bonds issued under its Medium Term Note programme. These included a US$2 billion 5.017% tier 2 subordinated Yankee bond due 2024; a US$2.5 billion issuance of two Yankee bonds, which was awarded "Best US dollar senior financial institution transaction in 2014" by Global Capital; and a US$1.25 billion 3.875% issuance of Yankee bonds due 2018, which won the Euroweek annual award for US dollar senior financial institution issuance in 2013.

Officine Maccaferri's €200 million high yield bond issuance, 2014

Michael and a team from London and Milan advised Credit Suisse, Banca IMI, BNP Paribas and UniCredit as joint bookrunners on Officine Maccaferri's high yield bond offering of €200 million 5.75% notes due 2021.

Salini Impreglio €513.3 million secondary offering, 2014

Michael advised Salini Impreglio S.p.A. as issuer and Salini Costruttori S.p.A. as selling shareholder, in connection with a placement of €513.3 million of Salini Impregilo S.p.A.'s shares to institutional investors.

Cerved Information Solutions €428.4 million IPO, 2014

Michael led the team which advised Banca IMI, J. P. Morgan, Mediobanca and UniCredit Corporate & Investment Banking as joint global coordinators on the €428.4 million initial public offering of Cerved Information Solutions S.p.A. on the Milan Stock Exchange. Cerved, an information technology business founded in 1974, was capitalized at €995 million.

De' Longhi S.p.A. €214 million cross-border private acquisition, 2012

Michael led the team which represented De' Longhi S.p.A. in connection with its perpetual licensing of the Braun brand and acquisition of certain assets from the Procter & Gamble Company, in a deal worth up to €214 million.

Atlantia S.p.A. €857 million cross-border private acquisition, 2012

Michael represented Atlantia S.p.A. in connection with the €857 million (US$1.13 billion) sale of a 49.99 percent stake in Grupo Costanera to Canada Pension Plan Investment Board.

Speaking Engagements

Michael regularly speaks at industry conferences and seminars. His most recent engagement was at the Euromoney Italy Conference held in Milan on 18 September 2014.

Awards & Recognition

Star Individual, Chambers Global 2016

Capital Markets – US/UK-qualified Experts

Leading Lawyer (Band 1), Chambers Europe / Global 2016

Capital Markets: Debt – Italy

Leading Lawyer (Band 1), Chambers Europe / Global 2016

Capital Markets: Equity – Italy

Leading Individual, The Legal 500 EMEA, 2015

Capital Markets: Debt – Italy

Leading Lawyer, IFLR 1000 2016

Capital Markets: Equity and Debt; M&A – Italy

Finance Lawyer of the Year, Top Legal 2011 and 2013