Italy

About

We offer clients, based in Italy or doing business in Italy, the benefit of our global experience, local knowledge and practical experience, implementing a local team integrated with our international capabilities and offices in order to deliver quality and innovative service.

We differentiate ourselves from other firms by offering a truly cross- border offering to our clients. Virtually all of our transactions involve more than one office and our lawyers are comfortable dealing with the idiosyncrasies of such complex transactions. This is supported by extensive experience in Italian transactions and quality Italian law legal advice. We cover the full spectrum of capital markets services, M&A expertise and banking and finance advice.

 

Leadership in Debt and Equity Securities

Our US, English and Italian law securities team is unique in its offering and one of the largest in Italy. We routinely represent issuers and investment banks on complex capital markets transactions. We are regularly top-tier ranked in international and Italian legal directories and enjoy leading positions in all major league tables rankings.

In the last ten years, we have worked on nearly 250 debt capital market transactions and are recognized as a market leader in High yield bonds, Yankee bonds, Eurobonds, covenanted Eurobonds, Euro and US Private Placements and EMTN offerings.

In the last ten years, we have worked on more than 100 equity capital market transactions and are recognized as leaders in IPOs, secondary offerings, equity-linked bonds and block trade offerings.

 

Italian and Cross Border M&A

Our M&A practice regularly represents Italian and international corporates in relation to domestic and cross-border transactions, as well as foreign corporates and private equity firms on their investments in Italy. We are ranked amongst the top-tier law firms in most of the national and international legal directories and enjoy strong rankings in league tables.

 

Italian and International Bank Finance

Our Italian bank finance team provides an integrated Italian, English and US law bank finance practice of the highest quality. We have extensive leveraged finance capability, delivering integrated bank/bond advice to underwriters and issuers, advising a wide range of non-bank investors and funds on all leveraged finance trends, including senior/bridge/bond commitments, private high yield and evolving intercreditor arrangements; as well as on new financing originations, restructuring, refinancing, distressed acquisitions, non-performing loan portfolio acquisitions, private equity and special situations. We are regularly ranked in the top tiers in bank finance major international and Italian legal directories.

 

AWARDS & RECOGNITION

Debt Capital Markets

Chambers Europe and Global, 2022
Band 1: Debt Capital Markets

The Legal 500, 2022
Tier 1: Debt Capital Markets

IFLR1000, 2022
Band 1: Debt Capital Markets

 

Equity Capital Markets

Chambers Europe and Global, 2022
Band 1: Equity Capital Markets

The Legal 500, 2022
Tier 1: Equity Capital Markets

IFLR 1000, 2022
Band 1: Equity Capital Markets

 

M&A

The Legal 500, 2022
Tier 3: Commercial, Corporate and M&A

The Legal 500, 2022
Tier 2: Private Equity

IFLR1000, 2022
Band 2: Merger & Acquisitions

 

Bank Finance

Chambers Europe and Global, 2022
Band 2: Banking & Finance

The Legal 500, 2022
Tier 1: Banking & Finance

IFLR 1000, 2022
Band 2: Banking

IFLR 1000, 2022
Band 1: Structured Finance

The Legal 500, 2022
Tier 3: Bank Regulatory

 

EU and Competition

The Legal 500, 2022
Tier 2: EU and Competition

 

Financial Restructuring & Insolvency

IFLR1000, 2022
Band 2: Restructuring & Insolvency

The Legal 500, 2022
Tier 3: Restructuring & Insolvency

Experience

Debt Capital Markets

  • High-yield bond issuances for Acuris, Cedacri, doValue, F.I.S. – Fabbrica Italiana Sintetici, Gamenet, IGT, I.M.A., ION, HP Pelzer, N&W Global Vending, Moby, Recordati, Rhiag and Wind Telecomunicazioni
  • Eurobonds for A4, Aéroports de la Côte d'Azur, Banca Farmafactoring, Amplifon, Anima, Atlantia, Autostrade per l'Italia, Credem Vita, Dikaios, Fintyre, ITAS Mutua and Republic of San Marino
  • US private placements for AMA, Autogrill, Amplifon, Ariston, Barilla, Dè Longhi, Illycaffè, I.M.A. and MARR
  • Euro private placements for Alitalia, Banca Farmafactoring, Beni Stabili, Caronte & Tourist, Corporación América Italia, DentalPro, Estra, Fintyre and Grandi Navi Veloci
  • ETMN/GMTN programmes for Acea, Aeroporti di Roma, AMCO, ASTM, Atlantia, Autostrade per l'Italia, Banco BPM, Eni, Intesa Sanpaolo, Pirelli, SIAS and Snam
  • Retail/Italian law bonds for Atlantia, Banca Popolare di Vicenza, Cassa Depositi e Prestiti, the World Bank and BTP Italia issuance by the Republic of Italy
  • Subordinated bank bonds for Banca Farmafactoring and Intesa Sanpaolo
  • Liability management exercises (consent solicitation, intermediated exchanges offers and cash tender offers) for Acea, Atlantia, Autostrade per l'Italia Banca Farmafactoring, Pirelli and Snam

Equity Capital Markets

  • IPOs for Banca Farmafactoring, Cerved, Gamenet, GIMA, GVS, Intercos, INWIT, OVS, Moleskine, MotorK, Philogen, Piovan, Sanlorenzo, SECO, Technogym and Technoprobe
  • Right issue offerings for Autogrill, Banca Carige, Banca Popolare di Milano, IGD SIIQ, Maire Tecnimont, Pininfarina, Saipem, UniCredit and Unipol
  • Block trades for Atlantia, Azimut, De'Longhi, Exor, Gamenet, I.M.A., Moncler, Reply, Salcef Group, UniCredit and World Duty Free
  • Convertible or equity-linked bonds for Eni and Telecom Italia

Bank Finance

  • Corporate loans for Acciaieria Arvedi, Amplifon, Autogrill, Autostrade per l'Italia, Cerved, Datalogic, Enel, Facile.it, Fintyre, Gruppo Forall, INWIT, Kedrion, Octo Telematics, Open Fiber, Piaggio, Proma, Recordati, Sacmi, Valentino and World Duty Free
  • Acquisition loans and LBOs for AEB,  Ali, Amplifon, BC Partners, Cedacri, Cifin, Cobepa, Esselunga, Faccin, Fintyre, HP Pelzer, Italiaonline, Lone Star Funds, MEC3, Philippe Model, Piovan, Recordati, Rina and Suba Seeds
  • Bank/Bond and SSRCFs for Gamenet, Grandi Navi Veloci and Moby
  • Unitranches for Ambretta and Fintyre
  • Structured Finance & NPLs
  • Securitizations for Banca IMI, Biverbanca, Cassa di Risparmio di Asti, Cassa di Risparmio di Biella e Vercelli, Citibank, Deutsche Bank, Monte dei Pasci di Siena and Banca IFIS
  • NPLs sale and purchase for Anchorage Capital Partners, Apollo Global Management, Bank of America Merrill Lynch, Deutsche Bank, GE Capital, Interbanca, UniCredit, UniCredit Leasing and York Capital Management Europe

M&A

  • Public M&A for Aeroporto di Firenze and Società Aeroporto Toscano Galileo Galilei, ASTM, Cerved, Dada, De' Longhi, Gamenet, HP Pelzer, I.M.A., Italcementi, Italiaonline, SEAT Pagine Gialle and SICIT
  • Private M&A for Alisarda, Angelini, Atlantia, Cairn Capital, Cellnex, Cifin, De' Longhi, Esselunga, GVS, Huvepharma, I.M.A., Kedrion, Mercedes-Benz, Metroweb, Piovan, Sirti, Smartbox, Takeda and Wilmar
  • Private Equity and sovereign funds advice to Accelero Capital, Antin Infrastructure Partners, BC Partners, CVC, Fondo FSI, Infracapital, InfraVia Capital Partners, Peninsula Capital, Summit Partners, Tengram Capital Partners and Trilantic Capital Partners