White & Case advises initial purchasers on €350 million sustainability-linked high yield bond offering by F.I.S.
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Global law firm White & Case LLP has advised BNP Paribas and Credit Suisse as joint global coordinators and joint physical bookrunners, and Banca Akros S.p.A. - Gruppo Banco BPM, IMI - Intesa Sanpaolo and UniCredit as joint bookrunners, on the debut €350 million 5.625% sustainability-linked high yield bond offering due 2027 by F.I.S. - Fabbrica Italiana Sintetici S.p.A. (F.I.S.).
The bonds were offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act, listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on its Euro MTF market. White & Case also advised the lenders on a new €50 million revolving credit facility for F.I.S., an Italian company which develops and produces active ingredients for the pharmaceutical industry.
The White & Case team that advised on the high yield bond included partners Michael Immordino, Evgeny Scirtò Ostrovskiy (both London & Milan) and Gilles Teerlinck (London), associate Phil Houten (London) and lawyer Riccardo Viel (Milan). The team that advised on the finance aspects of the transaction included partner Andrea Novarese (Milan), local partner Tiziana Germinario (Milan) and associate Marco Bressan (Milan). The team that advised on the deal's tax aspects included partner Chad McCormick (Houston) and associates Neil Clausen (Houston) and Zsofia Cassidy (London).
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