White & Case advises ITA Airways on secured note financing

Press Release
1 min read

Global law firm White & Case LLP has advised Italia Trasporto Aereo S.p.A. (ITA Airways), wholly-owned by the Italian Ministry of Economy and Finance, on the issuance of secured notes due 2034 by its newly-established Irish special purpose vehicle to refinance the acquisition of an Airbus A330neo aircraft.

The refinancing, which ensures the A330neo will be leased to ITA Airways, is significant for ITA Airways as it continues to modernize its fleet and enhance its operational efficiency.

The notes are listed on the Euro MTF Market of the Vienna Stock Exchange and subscribed entirely by a vehicle managed by Castlelake L.P., the leading global investment company active in the aviation sector.

The White & Case team that advised on the transaction was led by partner Andrea Novarese (Milan) and included partners Tommaso Tosi (Milan), James Greene and Justin Benson (both London), counsel Giuseppe Barra Caracciolo (Milan) and associates Alessia Sommadossi, Beatrice Bertuzzi (both Milan), James Turner and Shushi Hovannisian (both London).

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