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Allen & Overy advises Credito Emiliano on new Commercial Paper Programme

Allen & Overy has advised Credito Emiliano S.p.A. on the establishment of its new EUR1 billion Commercial Paper Issuance Programme.

The instruments under the Programme will be issued in dematerialised form through the centralised system operated by Monte Titoli S.p.A. and will be allocated exclusively to qualified investors. The Programme has been structured in accordance with the criteria and requisites established by the Market Convention on Short-Term European Paper (STEP) initiative and has obtained the relevant compliance certification (STEP Label).

A&O’s team was led by counsel Alessandra Pala and by partner Cristiano Tommasi, supported by trainee Paolo Martellone. Counsel Elia Ferdinando Clarizia assisted on tax-related aspects of the deal.