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Clifford Chance

31 WEST 52ND STREET, NEW YORK, NY 10019-6131, USA
Tel:
Work +1 212 878 8000
Fax:
Fax +1 212 878 8375
Email:
Web:
https://www.cliffordchance.com

Charles Adams

Tel:
Work +1 212 878 3415
Email:
Clifford Chance

Work Department

Banking & finance, Private equity, Energy & resources, Banks

Position

Charles Adams is a dual qualified avvocato (Italy) and solicitor (England & Wales) who is widely recognised as one of Italy's leading banking and finance lawyers.

Charles has advised banks and borrowers on some of the most significant syndicated loans, leveraged and project finance transactions in the Italian market over the past 20 years. He also advises clients on major Italian restructurings and insolvencies and is active in the Energy sector, having advised on some of Italy's landmark infrastructure and project financings and more recently on renewables transactions.


Italy: Banking and finance

Borrower side

Within: Borrower side

Clifford Chance’s ‘hugely experienced practice’ fields a mix of Italian and English qualified lawyers, who are equally strong on domestic and cross-border transactions. Key matters include advising Prometeon, a recently created holding company of the industrial tyre business formerly held by Pirelli Group, on a €600m secured term and revolving facility, which was arranged by Bank of America, China Construction Bank, HSBC and ING. Giuseppe De Palma, Ferdinando Poscio and Lucio Bonavitacola are highly rated; and Francesca Cuzzocrea and Gioacchino Foti are key counsels. Charles Adams divides his time between Milan and New York.

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Lender or arranger side

Within: Lender or arranger side

Clifford Chance regularly acts in complex transactions that contribute to shaping the Italian banking and finance market. In recent highlights, the team advised the mandated lead arrangers and financing banks, including Banca IMI, BNP Paribas, Intesa Sanpaolo, Natixis and UniCredit, on a high-value financing for a portfolio of 51 photovoltaic (PV) plants; the transaction was particularly innovative as it combined the characteristics of project finance with a structure typically used in real estate. Other highlights included acting for the joint mandated lead arrangers and bookrunners in a revolving €500m credit facility arranged for Terna. The key advisers are Giuseppe De Palma, Ferdinando Poscio, Lucio Bonavitacola and counsels Francesca Cuzzocrea and Gioacchino Foti. Charles Adams divides his time between Milan and New York.

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Latin America: International firms

Banking and finance

Within: Banking and finance

Clifford Chance has deep experience in a range of jurisdictions and financing products, and the practice has developed a strong roster of agency lender, commercial bank and sponsor/borrower clients. Moreover, with deep expertise in project finance, acquisition finance, asset finance for corporates, trade finance and capital markets-linked transactions, the firm is consistently at the forefront of growth sectors. It has achieved real prominence in Argentina, where it helped the government to shape the tender process for its PPP programme, and is now advising a range of bidders for upcoming PPP initiatives. This follows the firm’s key success in Colombia where it has been at the forefront of the government’s fourth generation (4G) toll road programme and in a number of private sector financings. In Peru, it has impressed in energy, toll road and other infrastructure projects, and in Chile it has undertaken various roles in headline renewables project financings. Brazil is also a market where the firm has had a significant presence for many years, with the practice working on a series of major restructurings and refinancings during the nation’s recent period of economic and political difficulties; it is now seeing a solid pipeline of new money financings. The established São Paulo team recently advised a syndicate of five Brazilian lenders on a $235m debt restructuring of leading Latin American petrochemical and plastics company, Unigel Group; the restructuring involved a novel approach involving a corporate reorganisation and an acquisition financing to deleverage the group, with the financing comprised of four syndicated export prepayment facilities and six bilateral loans. In another key deal, the firm advised Bancolombia and Banco Agromercantil de Guatemala (as arrangers and lenders) on a $340m syndicated secured loan to Renace to repay an existing $300m bridge loan to finance the development of the Renace II and Renace III hydroelectric power plants in Guatemala. Other key clients include Inter-American Development Bank (IDB), Goldman Sachs, Citibank, SMBC, JP Morgan Chase, IFC, Credit Suisse, BNP Paribas, OPIC and Mizuho. Jay Gavigan has an excellent record in Latin America, especially in acquisition finance and syndicated credit along with project finance and restructurings. ‘Very nice guy to deal with’, Chris Willott, is recommended by clients for restructuring expertise – especially in Brazil where he was based for many years, although he is equally adept in new money financings. Gianluca Bacchiocchi has a tremendous profile in project finance, especially in capital markets-linked financings in Peru and Colombia. In Washington DC, Fabricio Longhin takes much of the credit for the firm’s strong connection to IDB and its recent success in Colombia and Argentina. Also in Washington DC, Catherine McCarthy and Lori Ann Bean are noted for their agency-lender and commercial bank relationships; both are frequently involved in Latin America deals. Restructuring partner Jennifer DeMarco has become an experienced figure in the Latin America market and, at the associate level, senior associate Guido Liniado is impressing the market. All named individuals are based in New York unless stated. Charles Adams has transferred to Milan.

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