Global law firm White & Case LLP has advised the Pirelli Group on a consent solicitation and subsequent meeting of holders of €600 million notes due 2019 issued by Pirelli International plc and guaranteed by Pirelli Tyre S.p.A.
The meeting of noteholders approved the introduction in the terms and conditions of the notes of a make-whole issuer call, which will give the issuer of the notes the option, from time to time, to redeem all or some of the notes and, accordingly, will allow the Pirelli Group more effectively to manage the maturity profile of its indebtedness.
J.P. Morgan acted as Solicitation Agents on the consent solicitations.
The White & Case team which advised on the transaction was led by partner Paola Leocani (Milan), local partner Nicholas Lasagna (Milan) partners Rob Mathews and Francis Fitzherbert-Brockholes (both London) and associates Baldassarre Battista, Pietro Magnaghi (both Milan) and Anna Soroka (London).
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