Allen & Overy advises Apeiron and Apollo in the sale and refinancing with Illimity Bank of a portfolio of technical reserves of approximately EUR1.8 billion

Allen & Overy has advised Apeiron Management S.p.A. ("Apeiron") and some funds managed by companies of Apollo Global Management group ("Apollo Funds") in relation to a transaction with Illimity Bank S.p.A. for the sale and subsequent refinancing of a portfolio consisting of receivables for procurement reserves from public contracting entities with a nominal value of approximately EUR1.8 billion and previously acquired by the Apollo Funds. Mediobanca acted as sole financial advisor to Apeiron and the Apollo Funds.