Allen & Overy advises on the green real estate financing for Serravalle Outlet Village (Phase 6)
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Allen & Overy advised Nuveen Real Estate on the amendment of a EUR43 million loan agreement granted to Pragasei S.r.l., owner of Serravalle Outlet Village Phase 6, by Crédit Agricole Corporate and Investment Bank, Milan Branch.
The aim of the amendment is to extend the credit facility’s maturity and convert into a green financing in accordance with the Green Loan Principles of the Loan Market Association (LMA), the Loan Syndications and Trading Association (LSTA) and the Asian Pacific Loan Market Association (APLMA), and relating to a green asset aligned to the EU Taxonomy.
Crédit Agricole Corporate and Investment Bank acted as MLA, Lender, Agent, Hedging Bank as well as Green Coordinator.
The Allen & Overy team advising Nuveen Real Estate was led by partner Pietro Scarfone, supported by trainee Alessia Cellucci, with partner Paolo Nastasi and senior associate Francesca Croci advising on corporate law aspects.
A team from our Luxembourg office also assisted on the deal, advising on Luxembourgish law aspects. The team comprised partner Pierre Schleimer, senior associate Diana Konrad and junior associate Martin Poirier, as well as partner Sylvain Cailleau and senior associate Sibylle Vieille-Cessay advising on corporate law aspects.