The Legal 500

Italy > Banking and finance

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Editorial

Index of tables

  1. Banking and finance
  2. Other recommended firms
  3. Leading individuals

Leading individuals

  1. 1

Clifford Chance continues to contribute to shaping the landscape of Italy’s banking and finance market, regularly acting for the top three Italian banks by market capitalisation – UniCredit, Intesa SanPaolo and Mediobanca – as well as several major international banks. Mega-deal highlights saw the Milan team (acting alongside the London and Beijing offices) advising China Chemical Corporation, as debt counsel, on a €6.8bn financing package to fund the acquisition of Pirelli & C. Milan-based Ferdinando Poscio and Rome-based Giuseppe De Palma are recommended. Charles Adams is currently working from the New York office.

Lender-side highlights for Linklaters’ ‘highly professional, quality team’ included advising mandated lead arrangers Banca IMI, BNP Paribas (Italy), Mediobanca and UniCredit Bank (Milan) on a $800m term loan facilities agreement for Gtech. Davide Mencacci and Andrea Arosio are highly rated, as is the ‘detail-oriented, experienced and client-friendly’ Francesco Faldi.

Allen & Overy – Studio Legale Associato has ‘in-depth expertise in all areas of banking and finance’. Lender-side matters included advising Barclays Bank and a pool of nine other lead arranger banks on a €1bn financing of Pirelli. Practice head Stefano Sennhauser is ‘an outstanding lawyer’, recently promoted partner Pietro Scarfone is ‘very competent’, and Nicholas Clark – who divides time between Milan and London – is also recommended.

BonelliErede’s borrower-side matters included advising Ferrovie dello Stato Italiane on signing a €1.5bn revolving credit facility. In lending, the team acted for arranger and agent bank, BNP Paribas Corporate and Institutional Banking, security agent BNP Paribas Securities Services and lending bank Banca Nazionale del Lavoro on the granting of a €100m medium-long term secured loan to Esaot. Catia Tomasetti in Rome is ‘the most skilled lawyer in Italy’s project finance market’, and Milan-based Emanuela Da Rin and the ‘highly talented’ Giuseppe Rumi are also recommended. The firm promoted Federico Vezzani – who splits time between Milan and London – to the partnership in 2015.

One of the most reputable Italian firms’, Chiomenti Studio Legale appointed Milan-based Giulia Battaglia, who is ‘an excellent negotiator’, as head of finance. Borrower-side mandates included assisting Astaldi with a €500m revolving facility agreement; on the lender side, the team advised Intesa Sanpaolo, UniCredit and Banca IMI (together with Italian export credit agency SACE) on a €100m financing of Società Italiana per Condotte d’Acqua. Carola Antonini, Luca Bonetti and Carmelo Raimondo in Milan are recommended, together with Rome and Milan-based Gregorio Consoli and Francesco Ago, and Giorgio Cappelli in Rome.

Gianni, Origoni, Grippo, Cappelli & Partners shows ‘great business sense and excellent competence’. Recent matters include advising CDP Reti on arranging two facilities totalling €1.5bn with a pool of lenders; and acting for UniCredit on setting up a platform to co-invest, together with an insurance company, in the financing of small and medium-sized businesses. In Milan, Matteo Bragantini, Ottaviano Sanseverino and Emanuele Grippo are recommended. Other key advisers include Rome-based Giuseppe De Simone, who is ‘highly proactive’, Eugenio Grippo, Stefano Agnoli, Matteo Gotti and Paolo Iemma. Giuseppe Schiavello exited to launch a law firm.

Legance – Avvocati Associatican deliver under the greatest of pressure’. Recent work includes advising a pool of lenders, led by UniCredit and BNP Paribas Succursale Italiana (as bookrunners and mandated lead arrangers), on Lillo’s refinancing. Milan-based Alberto Giampieri, Andrea Giannelli and Luca Autuori, together with Monica Colombera and Filippo Ruffato, are recommended. In Rome, Giandomenico Ciaramella and lender-side expert Rosella Antonucci are also key partners.

The lawyers at Ashurst are ‘appreciated for their commercial sensitivity and problem-solving approach’. The team assisted Crédit Agricole CIB (as facility agent) and IntesaSanpaolo with a margin loan financing advanced to an Italian fashion group. Milan-based Gianluca Fanti and Carloandrea Meacci are recommended together with Italy practice head Franco Vigliano, who divides time between Milan and Rome.

DLA Piper shows ‘outstanding commitment to transactions’. Recent matters include assisting the arrangers with the complex financing of a major real estate project. Milan-based banking and finance head Mario D’Ovidio, who is ‘one of the top banking lawyers in Italy’, and Ugo Calò are recommended. Rome-based Antonio Lombardo heads the Italy finance and projects department. Other projects partners include Milan-based Francesco Ferrari, who has ‘strong negotiating skills and commercial acumen’, and the ‘highly knowledgeable’ Federico Zucconi Galli Fonseca, alongside Rome practitioners Francesco Novelli and Giovanni Ragnoni, who ‘has a problem-solving approach’. Former project finance head Rodolfo Errore joined Cartesius Advisory Network and former financial services head Marco Zechini moved to Orrick, Herrington & Sutcliffe’s Rome office.

Freshfields Bruckhaus Deringer’s lender-side highlights included advising a pool of banks, including Barclays Bank, ING Bank, UniCredit and Intesa Sanpaolo (as mandated lead arrangers, bookrunners and lenders), on a €700m corporate loan to fund ERG’s acquisition of EON Italia’s hydro assets. Rome-based Raffaele Lener is recommended along with Milan-based Corrado Angelelli and Emiliano Conio, who ‘heads straight for solutions’.

Gattai Minoli Agostinelli & Partners stands out for LBO financings and complex corporate finance and sport finance transactions. The team advised CityLife and Assicurazioni Generali on a high-profile refinancing. Riccardo Agostinelli, Lorenzo Vernetti and Marco Leonardi are recommended, as is Gaetano Carrello.

Hogan Lovells Studio Legale is active in corporate and acquisition finance, asset and project finance, and property and corporate finance, as well as loan portfolio disposals. ‘Collaboration with the practice is always pleasant’. In Milan, Carlo Massini is recommended, Federico Del Monte is ‘calm under pressure’ and Corrado Fiscale has ‘deep knowledge of finance transactions’. Rome-based Jeffrey Greenbaum is well known for regulatory and asset management matters and ‘has excellent links with regulators’.

Latham & Watkins LLPprovides skilled and well-structured teams’. The practice’s debt-side highlights included advising J.P. Morgan Securities, as arranger and underwriter of the acquisition debt financing of ChemChina’s purchase of a stake in Pirelli’s share capital. Andrea Novarese is recommended.

Norton Rose Fulbright’s Milan-based Arturo Sferruzza specialises in energy and infrastructure sector financings. Additionally, Mario Lisanti is renowned for acquisition finance, leveraged finance and real estate finance matters, as well as restructurings and corporate lending work; and Umberto Mauro and Gennaro Mazzuoccolo are also highly rated. Stefano Maria Zappalà left to found a new firm with Caporale Carbone Giuffré.

Orrick, Herrington & Sutcliffe welcomed DLA Piper’s former financial services head Marco Zechini to its Rome office. The practice recently secured borrower instructions from major Italian companies and gained prominent banks as lender clients. Patrizio Messina is Rome and Milan-based finance head, Raul Ricozzi in Rome is recommended for energy and infrastructure project financing, and Milan and Rome-based Dorothy de Rubeis is a key special counsel.

Recommended for highly important matters’, Pedersoli e Associati Studio Legale’s recent big-ticket work includes advising Exor on obtaining a $4.7bn financing from Citibank London and Morgan Stanley Bank International to part fund its acquisition offer for global reinsurer, PartnerRe. Alessandro Fosco Fagotto and the ‘savvy and experienced’ Maura Magioncalda are recommended.

White & Case (Europe) LLP’s recent lender-side experience includes advising Cassa di Risparmio di Parma e Piacenza (as lender, agent and security agent), on a €32m term credit facility granted to Facile.it Group. Milan and London-based Michael Immordino, and Iacopo Canino and Nicholas Lasagna in Milan are the key names.

Cleary Gottlieb Steen & Hamilton LLP acted as counsel to Investindustrial on senior secured bank financing arrangements for its counter takeover bid for Club Méditerranée. Milan-based Roberto Bonsignore is ‘competent, practical and commercial’. Milan and London-based Carlo de Vito Piscicelli is also highly rated.

Jones Day welcomed Piergiorgio Leofreddi and Vinicio Trombetti, who is ‘very precise and whose advice is extensive’, in Milan from Studio Legale Associato in affiliation with Simmons & Simmons LLP. Bank-side instructions included advising Bank of America Merrill Lynch on a €103m mortgage loan for the acquisition of a property portfolio by an Italian closed-ended real estate fund. Francesco Squerzoni and Alessandro Corno are recommended.

NCTM Studio Legale’s recent loan highlights include assisting Banca IMI (acting as global coordinator and book runner for a pool of banks) with a €110m financing of Banca Farmafactoring. Stefano Padovani in Milan is recommended along with Rome-based Eugenio Siragusa and Corrado Verna, who divides his time between Rome and Milan.

Studio Legale Associato in affiliation with Simmons & Simmons LLP has ‘a very skilled team’. The firm assisted a pool of banks with organising a financing facility for Grandi Salumifici Italiani. Fabrizio Dotti ‘obtains the best results for clients’. Davide D’Affronto and Romeo Battigaglia are also recommended. Piergiorgio Leofreddi and Vinicio Trombetti joined Jones Day.

Studio Legale Associato a Watson Farley & Williamsstands out for its flexibility and international approach’. On the lender side, the team advised Banca Popolare di Milano on financing Finarge Armamento Genovese’s purchase of an anchor-handling tug supply vessel. Milan-based Francesco Dialti is an asset finance expert, Rome-based shipping finance practitioner Furio Samela’s ‘strength is his attention to clients’, and Milan and Rome-based project finance specialist Eugenio Tranchino is ‘an excellent lawyer and deal promoter’. Rome-based energy and infrastructure project finance expert Pierpaolo Mastromarini, whose ‘experience and technical skills should be highlighted’, joined as partner from BonelliErede.

Bird & Bird’s ‘careful and prompt team’ is well known for its experience in the investment services and asset management sectors. The team advised Banca Popolare di Vicenza on the regulatory issues pertaining to a public offering of its shares. In Milan, Raimondo Maggiore and the ‘very talentedStefano Febbi are recommended. Rome-based Danilo Quattrocchi is ‘an excellent strategic thinker’.

CMS represents ‘excellent value for money’. Corporate lending mandates included advising Aareal Bank on the restructuring of a high-value loan granted to an Italian group. Paolo Bonolis is ‘very dedicated, service-oriented and knowledgeable’.

Caiazzo Donnini Pappalardo & Associati – CDP Studio Legale is ‘an excellent firm’, which acts on acquisition, shipping, real estate, structured and project finance. Recent work includes assisting UBI Banca with a transaction for the construction, management and maintenance of four hydroelectric plants. ‘Recommended for very complex transactions’, Rome-based Giulio Tognazzi is ‘extremely serious and meticulous in whatever he does’.

Carnelutti Studio Legale Associato’s recent debt-related matters include advising the banks (led by Intesa Sanpaolo) on the rescheduling of Canepa Group’s indebtedness. Marco Lantelme and Claudio Lichino are key contacts.

Eversheds’ borrower-side deals included advising Cantarellus on the mezzanine financing and related security package granted to it by LFPE. Milan-based Marco Franzini and ‘motivated and responsive’ financial markets regulation expert Alessandro Engst in Rome are recommended.

King & Wood Mallesons’ workflow includes secured and unsecured finance, as well as structured finance, and the financing of projects, acquisitions and asset purchases. Giancarlo Castorino and Ettore Scandale are recommended.

In borrower-side highlights, Macchi di Cellere Gangemi acted for Technogym on a €30m bilateral revolving credit facility granted by BNL. Claudio Visco is the Rome, Milan and Verona-based department head. Silvia Dell’Atti and Claudia Bruscaglioni in Rome, and Alessandro Sergio in Milan are also key advisers.

Paul Hastings LLP is a regular adviser to Banca Monte dei Paschi di Siena and has a strong presence in its London office through key Italian-qualified finance partners. Milan and London-based Alberto Del Din is recommended for structured finance matters.

Pavia e Ansaldo is recommended for leveraged finance, asset finance and acquisition finance. The practice also has strong real estate finance credentials and is noted for syndicated lending, structured products and regulatory matters. Rome-based Mario Di Giulio and Roberto Zanchi in Milan are highly rated.

Knowledgeable, well-connected and responsive firmStudio Legale RCC hired Gianvittorio Giroletti Angeli as a partner from Pedersoli e Associati Studio Legale. The team advises clients on a range of loans, structured and syndicated financing deals and factoring, and has specialist real estate and project finance expertise. Paolo Calderaro, Michele Crisostomo and Marcello Maienza are recommended.

Shearman & Sterling LLP’s Milan-based Tobia Croff ‘provides dedicated commitment at a senior level’. Recent instructions include advising a global private equity firm on a senior facility agreement between the borrower and lender, which was used to finance a shopping centre acquisition. Rome and Milan managing partner Domenico Fanuele also draws praise.

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