A&O advises on landmark Brebemi project bonds
07 January 2020
Allen & Overy has advised JP Morgan and Banca IMI and the other bookrunners on a EUR1.679bn issue of four series of landmark project bonds.
Allen & Overy also advised the lenders on a related EUR307m senior secured loan facility and the hedge counterparties on the related hedging arrangements. The refinancing deal involved fee earners from Milan, Rome, London and Paris.
This infrastructure refinancing is significant due to its complexity and the international nature of the key investors which invested in the strategic A35 toll road, known as the Brebemi, which connects Brescia, Bergamo and Milan. The highway is vital to servicing one of the most industrialised areas of Italy.
Craig Byrne, Capital Markets partner, commented: "We were proud to be able to work on one of the most significant refinancing deals in Italy this year. This type of transaction is where the firm excels, allowing us to showcase our truly cross-border expertise and our ability to work in teams across offices in a seamless fashion."
The Allen & Overy team advising on the matter included partners from the International Capital Markets and Banking practices; Craig Byrne (Milan), Tim Conduit (London), Cristiano Tommasi (Rome), Pietro Scarfone (Milan), Parya Badie (London) and Diana Billik (Paris). Also advising were counsel Nunzio Bicchieri (Milan); Frederic Demeulenaere (Milan) and Michele Milanese (Rome) as well as Sarah Capella (Rome – senior associate), Karin Braverman (Paris – senior associate), Kunel Tanna (London – senior associate), Marco Mazzola (Milan –associate), Jonathan Senior (London – associate) and Ting Chan (London – associate).
For further information, please contact Rajiv Pattni, Rajiv.Pattni@allenovery.com, on +44 (0)20 3088 1237