A highly regarded capital markets lawyer, Paul offers clients the benefit of his significant experience advising on high profile debt, equity and equity-linked transactions.
Qualified under English law, Paul has been based in Milan for a number of years, and his extensive track record representing underwriters and companies in capital markets deals in Italy has given him a deep understanding of the complex issues related to the domestic market.
Having joined the Firm's Global Capital Markets practice in 2014 from another international law firm, Paul has developed a strong reputation for working on multi-jurisdictional transactions with major Italian and international corporates from an array of sectors, as well as leading banks and financial institutions.
Paul's practice covers standalone bond issues for investment grade and sub-investment grade issuers, MTN programmes, issues of hybrid securities, liability management exercises, convertible and exchangeable bonds and initial public offerings.
Paul advised Morgan Stanley as sole underwriter on a private placement of senior unsecured notes for an aggregate amount of €125 million with a coupon of 2.125% due 2022 to qualified investors issued by Beni Stabili S.p.A. Siiq.
Paul advised Banca IMI S.p.A., UniCredit Bank AG and Morgan Stanley & Co. International plc, as Joint Lead Managers, on the issuance by Autostrada Brescia Verona Vicenza Padova S.p.A. of €600 million 2.375 percent Senior Secured Notes due 2020 to qualified investors outside the United States.
Paul advised Atlantia S.p.A.on a partial repurchase of its notes by means of a tender offer with a total value of approximately €1.1 billion.
Paul advised Kiko S.p.A. (owned by Percassi Group) on a private placement of €100 million, 6.50 % senior secured notes due December 2020 to qualified investors outside the United States. The notes are listed on the Irish Stock Exchange.
Paul advised Corporación América Italia S.p.A. (owned by Corporación América) on a private placement of €50 million secured guaranteed 6.25% notes due 2019 to qualified investors outside the United States. The notes were listed on the Vienna Stock Exchange.
Paul worked as part of the international team of the Firm's lawyers which advised on the Italian and English law aspects of Autostrade per l'Italia S.p.A.'s establishment of a €7 billion medium term note programme. The base prospectus was approved by the Central Bank of Ireland.
Paul advised Mediobanca – Banca di Credito Finanziario S.p.A., as arranger and dealer, and Crédit Agricole Corporate and Investment Bank, Société Générale and UniCredit Bank AG as dealers, on the Italian and English law aspects of the annual update of SIAS S.p.A.'s €2 billion euro medium term note programme.
Paul advised the underwriting banks, Banca IMI and Natixis, on a covenanted Eurobond issued by Kedrion Group S.p.A..
Paul advised Enel's underwriting banks, Banca IMI, BBVA, BNP Paribas, Crédit Agricole, Deutsche Bank, ING, JP Morgan, Mediobanca, Natixis, Société Générale and UniCredit, on a multi-tranche issue of hybrid securities due 2076 for £500 million and €1 billion. Paul also advised Telecom Italia on its hybrid securities in 2013.
Paul represented the joint lead managers in connection with an issue of equity-linked securities by Camfin, the holding company of Pirelli, which were exchangeable into Pirelli shares.
Paul was named as a leading individual in the Italian market and as a leading international lawyer by TopLegal.