The Legal 500

Italy

Italy > Banking and finance

Editorial

Index of tables

  1. Banking and finance
  2. Leading individuals

Leading individuals

Clifford Chance’s ‘advice and documentation reflects the practice’s excellent understanding of the industries and matters advised on’. The team advised Assicurazioni Generali on a series of revolving facility agreements totalling €1.8bn; and advised the European Investment Bank (EIB) on the financing of Venice Mose, an engineering project designed to help protect Venice from storm surges. Milan-based Charles Adams and counsel Francesca Cuzzocrea are recommended, as is head of banking and restructuring Giuseppe De Palma, who is based in Rome. Ferdinando Poscio was promoted to the partnership.

Linklaters’ Milan-based team is ‘performance and quality driven’. The practice advised Banca IMI and Natixis as mandated lead arrangers of the €1.5bn financing of Salini’s public tender offer for Impregilo’s shares. Andrea Arosio and department head Davide Mencacci ‘show great competence and organisation’. Francesco Faldi and counsel Tessa Lee are also key contacts, and Alessandra Ortelli was elected counsel.

Allen & Overy – Studio Legale Associato’s ‘levels of service are outstanding’. The practice advised a group of 30 Italian and international lenders on a €3bn forward start facility for Telecom Italia to refinance maturing credit lines. Milan-based Pietro Scarfone and Italian banking head Stefano Sennhauser are ‘serious professionals that have deep knowledge of banking and finance law’. English law banking head Nicholas Clark is ‘experienced at managing complex deals’.

Bonelli Erede Pappalardocomes up with practical solutions and understands what is at stake’. The team advised Edizione on the €600m credit facility granted by Intesa Sanpaolo, Mediobanca and UniCredit to finance the public tender offer for Benetton Group’s shares. On the lender side, Rome and Milan-based Catia Tomasetti is ‘a favoured lawyer for the banks’. Milan-based Giuseppe Rumi is ‘sharp, precise, and develops smooth relationships with clients’, and Rome-based Emanuela Da Rin is also highly rated.

Chiomenti Studio Legale’s team ‘performs an excellent job in terms of reliability, professionalism and collaboration’. The practice is better known for borrower-side work, and acted for RCS Mediagroup in relation to a refinancing of its existing exposure with several banks. However, it also handles lender instructions, and advised a pool of banks in relation to the granting of a €143m credit facility to Farmafactoring. Carmelo Raimondo and Carola Antonini in Milan are recommended, along with team head Giorgio Cappelli and Francesco Ago in Rome.

Latham & Watkins LLP’s ‘overall level of service is excellent, when considering its professionalism, and the time and people dedicated to projects’. The practice represented Autogrill and World Duty Free SAU in connection with a multi-currency revolving credit facility related to the demerger of the food and beverage business. Riccardo Agostinelli is local department chair and Andrea Novarese is global banking practice group co-chair.

Legance – Avvocati Associati’s ‘service is great, and it is extraordinary how the practice combines such quality with low costs’. The team acted for a pool of national and international banks, including BNP Paribas, in a financing provided to Datalogic. Milan and Rome-based Alberto Giampieri is recommended; and Andrea Giannelli in Milan is ‘fantastic for complex transactions’. Giandomenico Ciaramella and project finance expert Rosella Antonucci in Rome are ‘well prepared, and amazing in negotiations’, as is project finance specialist Monica Colombera in Milan.

Ashurst has ‘an experienced, well-rounded team of professionals’. The practice stands out for its project finance expertise. It advised the lenders on the financing of the first greenfield toll road project to reach financial closing in Italy. Team head Gianluca Fanti ‘provides strong support to clients’, and Milan-based colleagues Franco Vigliano and Carloandrea Meacci are also highly rated.

DLA Piperprovides high-value services, in terms of responsiveness, deep industry knowledge, technical skills in the financing sector, and commercial sense’. The practice has a strong reputation in real estate finance and export finance in particular, has grown in the syndicated and corporate loans sector, and is active in trade receivables finance and asset finance deals, including aircraft finance. The team advised Cassa Depositi e Prestiti, SACE and BNL-BNP Paribas on a €42m term credit facility granted to Ghella, marking the first Export Banca system credit facility granted to an Italian company for its development in foreign markets. Milan-based Antonio Lombardo heads the finance and projects practice; banking specialist Mario D’Ovidio is able to make transactions work and has ‘specialised technical expertise in the lending sector’; and Martin Pugsley is also a highly regarded banking expert. Project finance head Rodolfo Errore in Rome is ‘a business-oriented lawyer who is also well connected internationally’. In Milan, Ugo Calò is ‘a brilliant and reliable negotiator’, and Federico Zucconi Galli Fonseca has ‘a problem-solving approach’. Rome-based Francesco Novelli and Giovanni Ragnoni Bosco Lucarelli are also recommended. The project finance group was re-joined by Francesco Ferrari, who recently had been working in the firm’s Istanbul office.

In addition to serving clients from the firm’s network, Freshfields Bruckhaus Deringer has developed clients in the domestic market that focus on the private equity, financial institution and real estate sectors. The team advised Wells Fargo, as lender, on the financing of Bonney Forge Corporation’s acquisition of industrial valves manufacturer BFE from the Amenduni family. Team head Corrado Angelelli ‘understands Italian financing issues, but he also co-ordinates extremely well with the firm’s M&A attorneys to find solutions that work for all sides’. Milan-based Emiliano Conio is also recommended.

Gianni, Origoni, Grippo, Cappelli & Partners assisted the lenders in the lender-led restructuring of the Italian portion of the secured debt owed by Terreal Group; and advised the EIB, Cassa Depositi e Prestiti and Sace in connection with the €300m financing to increase the safety of the Fréjus trans-European Tunnel. Rome-based Luigi Chessa heads the banking and finance practice, and Ottaviano Sanseverino in Milan leads the projects and infrastructure group. Stefano Agnoli has a ‘a very good understanding of clients’ commercial objectives’. Milan-based Matteo Bragantini is also well regarded, as are Eugenio Grippo, Giuseppe De Simone, Matteo Gotti and Giuseppe Schiavello in Rome.

Hogan Lovells Studio Legale is ‘top notch in terms of local insight and the provision of innovative solutions’. It advised the owner of the Four Seasons Hotel in Florence on reviewing its financing arrangements, following its acquisition by Constellation Hotels Holding. Milan-based Federico Del Monte is ‘proactive in avoiding the problems that arise during transactions’; Corrado Fiscale ‘gives clear advice, simplifies complex matters, and finds good legal solutions’; and recently promoted partner Carlo Massini is ‘customer-oriented’. Jeffrey Greenbaum is ‘one of the best lawyers in Rome for financial services and asset management issues’.

Norton Rose Fulbright recently advised Società di Progetto Brebemi, concessionaire of the 62km toll motorway project linking Brescia, Bergamo and Milan, on obtaining €1.8bn limited recourse facilities to fund the project. Milan-based department head Arturo Sferruzza and acquisition finance expert Mario Lisanti are recommended, as are experienced practitioners Umberto Mauro and Gennaro Mazzuoccolo, and Rome-based Stefano Maria Zappalà.

Pedersoli e Associatiguarantees top-notch advice’. The team advised Group Alpha’s Italian operating company on a €90m leveraged financing from a pool of Italian banks to acquire a majority stake in Caffita System and its subsidiaries, as well as certain intellectual property rights. Alessandro Fosco Fagotto is ‘highly regarded for his expertise, which is enriched by strong experience in restructuring’. Maura Magioncalda and Alessandra De Cantellis are also well regarded.

White & Case LLP’s lawyers are ‘sensible, dedicated and knowledgeable’. The team represented a syndicate of banks, including Mediobanca, on forward start revolving facilities granted to Enel (and its subsidiary Enel Finance International) worth up to €9.44bn. Iacopo Canino and Nicholas Lasagna in Milan are recommended, as is Milan and London-based Italy practice head Michael Immordino.

Cleary Gottlieb Steen & Hamilton LLP’s Milan-based Roberto Bonsignore is ‘excellent; his advice and local market knowledge are invaluable’. Rome counsel Claudio Di Falco is also highly rated. Counsel Carlo de Vito Piscicelli, who returned to Europe from New York, splits his time between Milan and London. The team advised Sogefi on negotiating a five-year term and revolving credit agreement worth €200m with a pool of lenders led by ING Bank.

Gattai, Minoli & Partners assisted CVC Capital Partners with the complex and high-profile €2bn restructuring of Seat Pagine Gialle’s financial debt. Gaetano Carrello is recommended.

Jones Day advised a group of vehicles managed by Carlyle Group on the negotiation and potential restructuring of their indebtedness and subsequent winding up. Francesco Squerzoni ‘knows how to handle international counter-parties’.

NCTM Studio Legale Associato is praised for its ‘business acumen and industry knowledge’. The practice assisted UniCredit with a structured financing of Gamenet, a company operating in the gaming sector. Rome-based department head Corrado Verna is ‘dedicated to his deals’; Eugenio Siragusa is also well regarded; and Stefano Padovani in Milan is ‘an expert in financial matters’. Giuseppe Labianca accepted a role in-house with the firm’s client, Brunello Cucinelli.

Orrick, Herrington & Sutcliffe’s ‘service is carried out with precision, thoroughness and timeliness’. The team assisted Telecom Italia with a €3bn forward start facility financing, subscribed by 30 Italian and international banks, partly to refinance credit lines close to expiration. Team head Patrizio Messina is highly rated and is based in Milan and Rome. Raul Ricozzi in Rome ‘finds solutions and understands transactions’ key issues’, and Milan-based senior associate Dorothy de Rubeis is also an experienced practitioner.

Paul Hastings LLPimpresses with its depth of industry knowledge and responsiveness to urgent matters’. The team advised the European Bank for Reconstruction and Development on a €150m syndicated financing provided to Gestamp Automoción for capital expenditure and working capital requirements. Milan-based Alessandro Stoppa is ‘a lawyer that excels’. Italy banking and finance head Alberto Del Din is also recommended, and divides time between London and Milan.

Tonucci & Partners’ team is ‘knowledgeable and represents value for money’. It advised A S Roma, as borrower and guarantor, on two facility agreements worth €50m and related receivables and security packages. Milan-based Stefano Cirielli is ‘easy to work with and adapts to urgent requirements’, and Livio Esposizione in Rome is also recommended.

Studio Legale Associato a Watson, Farley & Williams’ team is ‘responsive, even when under pressure’, and is experienced in shipping finance, security packages and restructuring, as well as financings of acquisitions, real estate and projects. The team advised Greentech Energy Systems A/S on the financing of the Cagliari II wind farm. Team head Furio Samela in Rome is ‘a talented and pragmatic lawyer, who manages difficult transactions both at professional and personal levels’. Italy managing partner Eugenio Tranchino, who is based in Milan and Rome, is also recommended.

Studio Professionale Associato a Baker & McKenzie recruited of counsel Luigi Rizzi to the Rome office from DLA Piper. The team advised Jungheinrich Group on implementing the Italian feeder fund of an international financing platform arranged by LBBW. Alberto Fornari and Ludovico Rusconi in Milan are key names.

Bird & Bird has a ‘convincing, flexible approach that is oriented to provide solutions as close as possible to clients’ needs’. It advised UniCredit on the regulatory aspects of a complex €3.5bn buy-back transaction of the bank’s senior notes, and is regarded as being outstanding for its advice within the asset management and investment services sectors. Milan-based Stefano Febbi and practice head Raimondo Maggiore are recommended, as is experienced adviser Danilo Quattrocchi in Rome. Luigi Spada, the former head of Consob’s Intermediaries Supervision and Register Office, joined the Milan office as senior counsel.

CMS’ Rome-based practice head Paolo Bonolis advises on matters ranging from the establishment of banks to handling private equity transactions. Other work includes international cash pooling agreements, derivatives, and PPP deals. The practice recently assisted a German group’s Italian companies with the financing of three photovoltaic power plants.

Carnelutti Studio Legale Associato has strengthened its position in mainstream domestic banking and finance work, both on the transactional and regulatory side. The practice assisted a major Italian co-operative with the offering of financial products through its network of several hundreds of retail outlets. Milan-based Marco Lantelme is recommended.

d’Urso Gatti e Bianchi Studio Legale Associato advises on banking law, financing transactions and the issuance of guarantees. The practice’s expertise includes mezzanine financing and high-yield products. Giancarlo Castorino is the main contact.

Grimaldi Studio Legale’s recent experience includes advising Grandi Salumifici on a loan granted by BNL-Gruppo BNP Paribas to purchase a stake in Fratelli Parmigiani.

Labruna Mazziotti Segni is experienced in acquisition or real estate finance and debt restructuring. Clients include sponsors, industrial companies and private equity firms. Francesco Serrano Orlandini heads the practice.

Macchi di Cellere Gangemi recently advised Nedbank on the financing of a hydrocarbons exploration and exploitation project by Po Valley. Rome-based Claudio Visco and Claudia Bruscaglioni in Milan are recommended.

Pavia e Ansaldo primarily acts for banks, financial brokers and companies. Michele Cicchetti is well known for project finance deals; and Roberto Zanchi is an experienced corporate finance practitioner.

Studio Legale Riolo Calderaro Crisostomo e Associati’s Paolo Calderaro, Michele Crisostomo, and Marcello Maienza are the firms’ key contacts. The practice assisted Cassa Depositi e Prestiti with the structuring of substantial lending programmes, implementing the regulatory framework approved by the Italian government in order to grant subsidised loans to undertakings and individuals affected by northern Italy’s earthquake in May 2012.

Studio Legale Associato in affiliation with Simmons & Simmons LLP advised PM Partners on the financing of its acquisition of Plastiape. The ‘very skilled’ Davide D’Affronto is ‘a problem-solver’, and Fabrizio Dotti is also recommended.

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