Global law firm White & Case LLP has advised Banca Farmafactoring S.p.A. on the issuance of €200 million floating rate notes due 2020, pursuant to Regulation S under the Securities Act.
The Notes are listed on the Regulated Market of the Irish Stock Exchange and the issuance represents the first unrated floating rate note issued by a bank on the European market.
Banca Farmafactoring is the leader in Italy in the factoring market, specializing in the management and without-recourse factoring of receivables issued by suppliers of the Italian National Health Service and Public Administration. Banca Farmafactoring Banking Group is active in Italy, Spain, Portugal, Poland, Czech Republic, Slovak Republic and Greece.
The White & Case team which advised on the Italian and English law aspects of the transaction was led by partners Michael Immordino (Milan & London) and Ferigo Foscari (Milan), and local partner Paul Alexander (Milan), together with associate Davide Diverio and lawyer Olga Primiani (both Milan).
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