Tiziana Germinario

Associate, Milan



Tiziana Germinario is an associate in the Milan office with more than 12 years of experience. Her practice focuses on the areas of banking, financial restructuring and structured finance.

Tiziana regularly assists local and international banks, financial intermediaries, companies operating in different industries (e.g. automotive, energy, global contracts, sport and entertainment, shipping, food and beverage, industrials & manufacturing) and sponsors in the context of corporate finance, green and sustainability-linked finance, restructuring, real estate finance and acquisition finance transactions. Tiziana has also experience assisting investors, originators and servicers in the context of NPL and UTP purchase and securitization transactions, also in the context of a restructuring plan.

The Legal 500 2021 recognized Tiziana as a key lawyer in Banking & Finance and Restructuring & Insolvency.

Prior to joining White & Case in August 2019, Tiziana practiced in the Milan offices of two other major international law firms.

Bars and Courts
Italian Bar
Bocconi University

Milan, Italy



Sustainability-linked Finance

  • A pool of banks including Intesa Sanpaolo, BNP Paribas, BNL, UniCredit, Banco BPM and Natixis in connection with a five-year €750 million revolving credit facility granted to Autostrade per l'Italia S.p.A. The loan includes an option to convert into a sustainability linked revolving credit facility following the publication of Autostrade per l'Italia's first sustainability report, expected by June 2021.
  • Enel S.p.A. and its subsidiary Enel Finance International N.V., in connection with its €10 billion sustainability linked revolving credit facility. This deal represents the largest sustainability linked financing globally.
  • Banca IMI, Natixis and UniCredit as global coordinators, mandated lead arrangers anb and green coordinators; Banco BPM, Banco Santander, BNL, ING Bank, Mediobanca and Société Générale as mandated lead arrangers; and BPER, CAIXA Bank, MUFG and NatWest as lead arrangers, in connection with the €1.1 billion syndicated green loan provided to .italo NTV.

Debt Finance

  • J.P. Morgan AG, UniCredit S.p.A. and Goldman Sachs Bank Europe SE, as mandated lead arrengers and J.P. Morgan Chase, UniCredit S.p.A. and Goldman Sachs Bank Europe, as original lenders, on a €60 million revolving credit facility to Cedacri Mergeco S.p.A. to finance its acquisition of Cedacri S.p.A.
  • Autogrill S.p.A., the world's leading provider of food & beverage services for travellers, in connection with a €300 million term financing guaranteed by SACE S.p.A. under Article 1 of the Italian Liquidity Decree.
  • Sofima Holding S.p.A., a newly established company controlling IMA S.p.A., and its subsidiaries in connection with multiple financings in the context of BC Partners's acquisition of Sofima and the subsequent mandatory tender offer on all the outstanding shares of IMA S.p.A. for a total amount of €1.650 billion.
  • Cerved Group S.p.A., a leading provider of credit risk analysis and the first independent market player in credit management in Italy, in connection with a €713 million term and revolving financing granted by a pool of banks.

Financial Restructuring & Insolvency

  • A pool of banks in connection with the financial restructuring of the Messina Group, a historic Italian shipping group based in Genoa and specialized in international shipping services.
  • Intesa Sanpaolo S.p.A. and the other financial creditors in connection with the €700 million restructuring of Sirti S.p.A., a company specialized in the design, construction and maintenance of large telecommunication networks.
Awards and Recognition

Banking & Finance
Key Lawyer: The Legal 500 2021

Restructuring & Insolvency
Key Lawyer: The Legal 500 2021