Global law firm White & Case LLP has advised Proma S.p.A. and its subsidiary Proma SSA S.r.l. on two medium-long term loans, guaranteed by SACE S.p.A. under Article 1 of the Italian Liquidity Decree, which provides that subject to certain conditions, loans may be guaranteed by SACE S.p.A., a state-owned Italian export credit agency.
The SACE guarantee is reserved to loans of up to six years duration granted between the date that the Liquidity Decree went into effect and until December 31, 2020.
Proma S.p.A. is a leading company in the production of components for the automotive sector. The firm specializes in the development and fabrication of seat structures and mechanisms, body assemblies and front-end suspension crossbeams.
The White & Case team in Milan that advised on the transaction was comprised of partners Andrea Novarese and Maria Cristina Storchi, and lawyers Francesco Mozzone and Beatrice Bertuzzi.
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