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
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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.
This is one of the first transactions on the market involving this type of credit.
The Allen & Overy team is led by partner Stefano Sennhauser, supported by associate Fabio Gregoris and trainee Riccardo Ingrao. Partner Francesco Guelfi with senior associate Elia Ferdinando Clarizia and associate Lino Ziliotti provided assistance with the tax aspects of the transaction.