Allen & Overy – Studio Legale Associato‘s debt capital markets (DCM) and securitisation lawyers ‘always go the extra mile and are very commercial‘. The firm also showcases a leading derivatives practice. Craig Byrne is an expert in hybrid capital instruments, liability management transactions, bond issues and debt programmes; Stefano Sennhauser works on innovative deals that combine banking tools with structured finance techniques; and Cristiano Tommasi has longstanding DCM experience. Also highly active are senior counsel Lisa Curran, counsels Pietro Bellone, Emiliano La Sala and Alessandra Pala, and senior associate Sarah Capella.
Capital markets: Debt in Italy
Allen & Overy - Studio Legale Associato
Practice head(s):
Other key lawyers:
Lisa Curran; Pietro Bellone; Emiliano La Sala; Alessandra Pala; Sarah Capella
Testimonials
‘The team assisted us with the different structures to be adopted, providing us with much food for thought – very useful for making the best economic-financial choice.‘
‘Always available to meet our requests.‘
‘We have a strong relationship with the A&O Milan team; they always go the extra mile and are very commercial.‘
‘Unique technical qualities and ability to grasp the client’s needs immediately.‘
‘Ability to propose innovative and non-obvious solutions, and negotiate the best terms for clients.‘
‘Craig Byrne is super-commercial and a pleasure to work with. We have worked on some really tricky transactions together, and he always helps us to navigate difficult waters and big client characters with apparent ease!‘
‘Stefano Sennhauser has unique technical skills and market experience, and is a professional of absolute standing.‘
‘Counsel Pietro Bellone is always ready, courteous and available to answer our questions and doubts.‘
Key clients
Agos Ducato
Algebris Investments
Arrow Global
Banco BPM
BNP Paribas
Cassa Depositi e Prestiti
Crédit Agricole CIB
Enel
FCA Bank
Intesa Sanpaolo
Banca IMI
Mediobanca
Natixis
PIMCO
Santander
Société Générale
UBI Banca
UBS
Work highlights
- Advised JP Morgan and UBS on the structuring and execution of the financing agreements surrounding a partial, non-proportional demerger, which included a non-performing asset portfolio from Banca Monte dei Paschi di Siena in favour of Amco.
- Advised international energy company Enel (and its subsidiary Enel Finance International) on a triple-tranche €3.25bn sustainability-linked bond.
- Advised Glennmont Partners, as protection seller, on a synthetic securitisation over a large portfolio of renewable energy projects.
Clifford Chance
Clifford Chance's team of Italian, English and US-qualified lawyers cover all aspects of capital markets work, including standalone bonds, EMTN programmes and draw-downs, and hybrid, exchangeable and convertible bonds. Other areas of focus are liability management, retail structured products, and Italian government bonds and draw-downs. DCM specialist Filippo Emanuele co-heads the Italian finance and capital markets practice; Gioacchino Foti has expertise in hybrid bonds; Tanja Svetina leads the structured finance team in Italy; and counsel Laura Scaglioni advises on bond issuances. Jonathan Donald Astbury and Alice Reali are key senior associates.
Practice head(s):
Other key lawyers:
Gioacchino Foti; Tanja Svetina; Laura Scaglioni; Jonathan Donald Astbury; Alice Reali
Key clients
AMCO
Ardian
Crédit Agricole Corporate & Investment Bank
Credito Emiliano Holding
EPrice
ERG
Poste Italiane
Prysmian
PolyPeptide Group
Work highlights
- Advised the joint bookrunners on a triple-tranche issue of €3.25bn sustainability-linked bonds issued by Enel Finance International.
- Advised a banking syndicate on the Republic of Italy’s inaugural €8.5bn green bond.
- Assisted Poste Italiane with the issue of a dual tranche senior unsecured bond (for a total amount of €1bn).
Latham & Watkins LLP
Latham & Watkins LLP's Italian capital markets team consistently advises on high-profile transactions, standing out for its assistance to clients with both Italian and US law. Antonio Coletti, who has extensive experience advising on a wide variety of securities transactions, heads the Italian team. The US group is led by Jeffrey Lawlis, an expert in high-yield bond and loan products; and capital markets specialist Ryan Benedict, who works across the firm's Milan and London offices. Paolo Bernasconi, who focuses on issuances of high-yield debt securities, became partner in January 2022.
Practice head(s):
Other key lawyers:
Testimonials
‘Great team, with unique reliability and quality.‘
‘Jeffrey Lawlis, the best lawyer around for financing, has led the company with his great experience (from a legal point of view) since its first bond issue.‘
White & Case LLP Italy
Fielding a large US, English and Italian capital markets practice, White & Case LLP Italy consistently works on complex and large DCM and high-yield transactions across all debt products. The broad practices of Giuseppe Barra Caracciolo and Gianluca Fanti include complex securitisation transactions; Ferigo Foscari has longstanding securities experience; and Michael Immordino works across the Milan and London offices. The second line of experienced practitioners includes Francesco Scebba, who was made partner in 2020; Tommaso Tosi, who has notable high-yield capital markets experience; as well as associates Robert Becker, Pietro Magnaghi and Alessandro Picchi.
Practice head(s):
Giuseppe Barra Caracciolo; Gianluca Fanti; Ferigo Foscari; Michael Immordino; Tommaso Tosi; Francesco Scebba
Other key lawyers:
Testimonials
‘The firm is characterised by very high levels of expertise in the Italian and international markets.‘
‘Deep technical knowledge gained in the context of significant and complex transactions.‘
‘Expertise and international components that allow 360-degree assistance.‘
‘The team is very present and proactive, and made up of experienced and competent professionals.‘
‘Ferigo Foscari is a strong reference point for corporate and banking issuers.‘
Key clients
Acea
Adler Pelzer
Aéroports de la Côte d’Azur
Aeroporti di Roma
AMA
Amplifon
Astaldi
ASTM
Atlantia
Atlas Capital Markets
Autogrill
Autostrade per l’Italia
Azimut
Banca Akros
Banca IMI
BC Partners
BFF Bank
Banca Popolare di Vicenza
Banco BPM
Bank of America Merrill Lynch
Barclays
Biverbanca
BNP Paribas
Cassa di Risparmio di Asti
Cassa di Risparmio di Biella e Vercelli – Biverbanca S.p.A.
Cedacri
Citigroup
Corporation America Italia
Crédit Agricole
Credit Suisse
Credito Fondiario
CVC Capital Partners
De’Longhi
Deutsche Bank
doBank
doValue
Enel
Enel X
Esselunga
E.S.TR.A.
Fire
Gamenet
Glennmont Partners
Goldman Sachs
GSO Capital Partners
GVS
Hoist Finance
HP Pelzer Group
HSBC
Ion Analytics
Ion Corporates
Ion Markets
Intercos
International Game Technology
IMA
Intesa Sanpaolo
Jefferies International
JP Morgan
Kedrion
Lone Star Funds
Mediobanca
Morgan Stanley
MPS Capital Services
Natixis
NatWest Markets
Oaktree Capital Management
Philogen
Piaggio
Pemberton Asset Management
Pininfarina
Pitagora
Pro-Gest
Recordati
SECO
Standard Chartered Bank
Ruffini Partecipazioni
SIA
SICIT
Société Générale Corporate & Investment Banking
Società di Progetto Brebemi
TCP Lux Eurinvest
Toscana Aeroporti
UBI Banca
UniCredit
UniCredit Leasing
Wind Tre
York Capital Management
Work highlights
- Advised Sofima, the holding company that controls IMA, on a high-yield bond issuance of senior secured notes (issued in two tranches).
- Advised Autostrade per l’Italia on its issuance of high-yield notes.
- Advised Credito Fondiario, Deutsche Bank and JP Morgan (as co-arrangers and senior investors) on a securitisation of secured and unsecured claims (classified as non-performing).
BonelliErede
BonelliErede's multidisciplinary DCM focus team is headed up from London by highly rated banking and finance partner Massimiliano Danusso. Providing 'superb commercial advice', the practice houses several experts in structuring corporate debt instruments, medium-term notes, standalone euro bonds, hybrid bond projects, and domestic and high-yield bonds. Antonio La Porta is particularly focused on structured finance, securitisation operations, covered bonds, and investment grade and high-yield bond issues; and Emanuela Da Rin is another highly regarded DCM expert. Promoted to partner in June 2021, Francesca Marchetti's practice covers structured finance deals.
Practice head(s):
Other key lawyers:
Testimonials
‘Extensive knowledge and experience in the public finance sector.‘
‘Clear identification of problems with quality responses and timeliness.‘
‘Expertise and experience, including litigation aspects (civil, administrative and criminal), in relation to the management of the debt of Italian public bodies.‘
‘Strong knowledge of market players and strong knowledge of Italian local courts and Italian judges.‘
‘The ability to advise beyond pure legal matters and share market experience with clients.‘
‘Great for its multi-disciplinary features, competence and ability to respect the given deadlines.‘
‘Massimiliano Danusso provides a great technical service with superb commercial advice and an outstanding ability to deliver on complex documentation in record time.‘
‘Massimiliano Danusso is extremely available, and has the ability to understand the needs and objectives of clients.‘
Key clients
Deutsche Bank
BNP Paribas
Dexia Crediop
Morgan Stanley
Barclays Bank
Unicredit
Eurofima
CFE
Euler Hermes
Intesa Sanpaolo
Trenitalia UK
Work highlights
- Advised Barclays on the establishment of a large covered bond programme.
- Advised Deutsche Bank on a securitisation of consumer loans originated by Deutsche Bank that is worth approximately €4.7bn.
- Assisted Parco Eolico Casalduni House and Renexia with the structuring and documentation of a green bond.
Chiomenti
Chiomenti's finance and regulated entities department routinely acts on complex and cutting-edge structured finance deals; its recent experience includes large-value securitisation transactions. Team leader Gregorio Consoli assists Italian and international clients with extraordinary transactions, and is particularly focused on those involving financial entities and regulated sectors; Giulia Battaglia specialises in structuring complex deals; and former partner Francesco Ago
has been senior of counsel since 2019. Securitisation and bond loan expert Gianrico Giannesi recently joined as partner from Orrick, Herrington & Sutcliffe, while DCM specialist Benedetto La Russa became partner in 2021.
Practice head(s):
Other key lawyers:
Giulia Battaglia; Francesco Ago; Benedetto La Russa; Fraser Wood ; Gianrico Giannesi
Testimonials
‘High-level skills in relation to the most complex structured finance transactions.‘
‘Great team organisation.‘
‘Highly renowned team.‘
‘Extremely expert and business-oriented.‘
‘Extremely versatile team that is always available to work beyond the usual hours to complete operations within the established times.‘
‘They always provide adequate answers, even when the timing is very tight; and within the firm they have all the necessary expertise to bring into play.‘
‘Gregorio Consoli is appreciated for his preparation, availability and problem-solving skills.‘
‘Gregorio Consoli and Gianrico Giannesi combine exceptional client management skills with equally exceptional knowledge of the subject.‘
Key clients
Intesa Sanpaolo
JP Morgan
Mediobanca
Banco BPM
UniCredit
BNP Paribas
Credito Fondiario
Deutsche Bank
Enel
European Investment Bank
Alba Leasing
Banca Carige
Banca Popolare di Sondrio
Saipem
Unione di Banche Italiane
IGD SIIQ
Alerion Clean Power
AS Roma
Aedes SIIQ
Banco Desio
Creval
Terna
Goldman Sachs
Credemvita
ION Group
Work highlights
- Advising Intesa Sanpaolo on a UTP partnership in Italy with Prelios that includes the assignment of a portfolio of receivables (classified as unlikely to pay) originated by ISP (and other banks belonging to the ISP Group), which relate to a securitisation transaction.
- Advised Prelios Group in relation to the Back to Bonis project, which consisted of AMCO (master and special servicer of the securitisation) and Prelios Group’s joint management of a portfolio of small/medium UTP loans.
- Advised Enel Finance International on a sustainability-linked bond issue guaranteed by Enel under an EMTN programme.
Legance - Avvocati Associati
Legance - Avvocati Associati's banking and finance group is coordinated by senior partner Andrea Giannelli, a structured finance and DCM transactions specialist. The team covers a wide range of areas, including issues of bonds and other debt securities, securitisation of receivables, covered bonds, debt restructurings, derivatives, securities lending transactions and other structured products. Also highly regarded are structured finance expert Vittorio Pozzi; Antonio Siciliano, who was promoted to partner in 2021; and Antonio Matino and Roberto Mazzarano, who were recently made senior counsels. Matteo Pierotti is the managing associate to note.
Practice head(s):
Other key lawyers:
Vittorio Pozzi; Antonio Siciliano; Antonio Matino; Roberto Mazzarano; Matteo Pierotti; Giorgia Foddis; Vincenzo Gurrado; Giovanni Nervo
Testimonials
‘Lean team and knowledge of clients’ needs.‘
‘The integration of groups, information exchange and multidisciplinary practice adds value.‘
‘Direct, practical and very prepared – nobody wastes time on formalities or banalities.‘
‘Knowledge of the industry allows them to understand potential problems and anticipate them.‘
‘High levels of expertise in the structured finance sector and ability to manage complex transactions.‘
‘Extremely available, maximum competence, innovative solutions, and the ability to facilitate operations and negotiations.‘
‘Antonio Siciliano has constant availability and knowledge of the market – extremely competent, solid and effective help in solving legal and commercial problems.‘
Key clients
2i Rete Gas
A2A
Aeroporti di Roma
Agos Ducato
Amundi SGR
ASTM
Banca Finint
Cassa Depositi e Prestiti
Compass Banca
Credito Fondiario
European Investment Bank
Fortress Investment Group
Banca Finint
Cassa Depositi e Prestiti
Credito Fondiario
CheBanca!
Compass Banca
Illimity Bank
ING Bank
Unicredit
Work highlights
- Assisted Nexi with the issue of two senior unsecured high-yield notes aimed at (inter alia) refinancing the indebtedness of Nets Topco 2 and SIA.
- Assisted Aeroporti di Roma with the annual update of its EMTN programme; the issue of a green bond under the EMTN programme; and the issue of a sustainability-linked bond under the EMTN programme.
- Assisted UniCredit Bank, as sole arranger, with the securitisation of a portfolio of approximately €1.6bn of non-performing loans.
Orrick, Herrington & Sutcliffe
Orrick, Herrington & Sutcliffe has a substantial track record in DCM and securitisation transactions; and the practice includes English and US law-qualified partners. Head of the finance team in Italy, Patrizio Messina, provides senior-level expertise in DCM, asset finance and securitisation, along with other structured financings; Annalisa Dentoni-Litta advises leading international arrangers on securitisation deals; Madeleine Horrocks heads the English finance practice in Italy; and Alessandro Accrocca advises both domestic and international financial services entities. At of counsel level, Nicolò Del Dottore and Sabrina Setini act on structured finance transactions.
Practice head(s):
Other key lawyers:
Annalisa Dentoni-Litta; Madeleine Horrocks; Alessandro Accrocca; Nicolò Del Dottore; Sabrina Setini; Daniela Pietrini
Testimonials
‘Great professionalism and availability.‘
‘Perfect organisation of the team with excellent response times and maximum availability.‘
‘Great mediation skills to reach satisfactory meeting points – non-aggressive, but determined approach.‘
‘Great ability to understand negotiation issues, including commercial ones.‘
‘Wide and complete availability of the whole team, even at partner level.‘
‘Excellent quality of services rendered and worth noting is the great managerial skills of Patrizio Messina.‘
‘Patrizio Messina and Annalisa Dentoni-Litta guarantee particular attention to detail.‘
‘Great esteem for Annalisa Dentoni-Litta and her team, including of counsel Sabrina Setini. Thanks to their in-depth knowledge of the law and the technicalities of complex structured finance transactions, they represent a solid presence for the client.‘
Key clients
A2A
UBS Group
Cassa Depositi e Prestiti
Deutsche Bank (London Branch)
Enel
Iccrea Banca
Intesa Sanpaolo
Iren
Italgas
JP Morgan Securities
National Bank of Greece
Mediocredito Centrale
Snam
Telecom Italia
Inwit
BPER Banca
AMCO – Asset Management Company
Banca Sistema
Work highlights
- Advised the arrangers on structuring landmark NPE securitisations in Greece (totalling an aggregated value of €14bn), which aimed to decrease the significant non-performing loan exposure of Piraeus Bank, one of Greece’s four systemic banks.
- Acted for Enel Finance International on the placement on the US and international markets of a multi-tranche sustainability-linked bond (aimed at institutional investors) for a total of $4bn.
- Advising Banca Carige and Banca del Monte di Lucca on an innovative STS (simple, transparent, standardised) securitisation transaction (backed by a portfolio of loans).
Simmons & Simmons
Simmons & Simmons' Milan-based English and Italian DCM team advises underwriters and issuers – including sovereign, supranational unions, corporations, banks and financial institutions – on the full gamut of transactions across the capital markets product spectrum. Milan DCM leader Paola Leocani has longstanding experience in advising on securities deals; and Simone Lucatello is the partner in charge of the structured finance and securitisation group in Italy. Baldassarre Battista is an experienced managing associate.
Practice head(s):
Other key lawyers:
Baldassarre Battista; Maria Vittoria Cazzola; Federica Piemonte
Testimonials
‘Large strong deal teams that are well staffed and with confident, capable lawyers who are well supervised by high-quality partners.‘
‘Willingness to meet us in the middle on fees, as well as secondment arrangements – they have taken time to invest in the relationship with us and it pays off.‘
‘All too often legal advice can be just a legal statement, but we never get just that with Simmons & Simmons – great for client support, problem identification and proposal of solutions, and professionalism.‘
‘Paola Leocani has great ability and legal expertise, availability and an aptitude for solving problems.‘
‘Paola Leocani has extreme legal technical competence.‘
‘Simone Lucatello is an excellent partner. He strikes a great balance between technical legal capability and commercial practicality, and he gives high-quality, risk-based advice that we always feel is tailored appropriately for our needs.‘
‘Simone Lucatello understands who we are, and gives us not just the law but helps to guide and navigate us through unfamiliar landscapes. He reaches out proactively to maintain the relationship with interesting knowhow or cross-selling where appropriate.‘
‘Managing associate Baldassarre Battista is appreciated for his maximum availability, ability to interact and resolution of complex matters.‘
Key clients
Christofferson Robb and Company
Anthilia Capital Partners
Zenith Service
Securitisation Services
130 Servicing
Banca Finanziaria Internazionale
DepoBank
San Marino
Eni
Goldman Sachs International
Citigroup
Atlas
Mediobanca Banca di Credito
Securitisation Services
Ashurst
Ashurst's practice fields experts in private debt and alternative lending in the Italian market, along with project bonds and securitisation. The principal figures are project bond specialist Carloandrea Meacci; Milan banking and finance head Mario Lisanti; Milan restructuring and special situations leader Paolo Manganelli; Umberto Antonelli, a structured and capital market financing specialist; and Milan tax head Michele Milanese. Counsel Annalisa Santini is responsible for the structured finance practice.
Practice head(s):
Carloandrea Meacci; Mario Lisanti; Michele Milanese; Paolo Manganelli; Umberto Antonelli
Other key lawyers:
Testimonials
‘Works seamlessly across different jurisdictions.‘
‘Always available and willing to go the extra mile.‘
‘The team is very commercial and has a strong international network.‘
‘Mario Lisanti and counsel Annalisa Santini are always available to clients, know the market very well, and have an international perspective.‘
Key clients
Natixis
Banco BPM
Intertrust Trustees
Manzoni & C
Amundi
Work highlights
- Advised Banco BPM (as senior noteholder) on the subscription of a senior tranche of notes issued by an Italian securitisation SPV (backed by project financing loan agreements).
- Assisting the European Investment Bank with a synthetic securitisation transaction carried out by the European Investment Fund and counter-guaranteed by a guarantee issued by the European Investment Bank.
- Advised Intertrust Trustees (as security trustee) on a securitisation transaction involving trade receivables acquired by Private Driver Italia 2020-1 and financed through the issue of fixed rate asset-backed notes.
Dentons
Dentons‘ Italy team advises on debt, structured finance and securitisation deals, along with derivatives work. DCM and structured finance specialist Piergiorgio Leofreddi was hired from Jones Day in 2020 to lead the Italy DCM practice; and Gianpaolo Garofalo, whose experience include securitisation and repackaging transactions and EMTN debt programmes, leads the structured finance group. Advising retail and institutional investors, Annalisa Feliciani joined as partner in late 2021 from Hogan Lovells International LLP.
Practice head(s):
Other key lawyers:
Testimonials
‘Readiness and punctuality in responding to clients’ needs.‘
‘I particularly appreciate Piergiorgio Leofreddi and associate Matteo Mosca.‘
Work highlights
- Assisted Ferrovie dello Stato Italiane with the issuance of its third green bond.
- Advised Mediobanca Banca di Credito Finanziario on the update of the €40bn EMTN programme of Mediobanca and Mediobanca International.
- Assisted a pool of banks, comprising BNP Paribas, Crédit Agricole, Intesa Sanpaolo, J P Morgan and NatWest Markets, with the issuance of the Italian Ministry of Economy and Finance’s green bond.
DLA Piper
DLA Piper‘s full-service DCM and structured finance group advises on the widest gamut of debt transactions. Heading the practice within the finance, project and restructuring department, Luciano Morello acts for banks and investment funds on asset securitisation transactions and structured finance deals. The practice also showcases legal director Gilemma Nugnes, who is experienced in structured finance and derivatives; and Martina Antoniutti, who assists with both transactional and regulatory matters.
Practice head(s):
Other key lawyers:
Gilemma Nugnes; Martina Antoniutti; Fiorenza Marin; Roberto Trionte; Alessandro Nicolardi
Testimonials
‘Extremely strong knowledge of the market.‘
‘Great for the constant willingness to collaborate and ability to relate professionally by delivering both knowledge and expertise.‘
‘Great availability and professionalism in dealing with all work issues of interest.‘
‘Solid organisational capacity of the team.‘
‘Luciano Morello stands for excellence. His deep knowledge of the industry is outstanding.‘
‘Luciano Morello is characterised by his deep knowledge of the market.‘
Key clients
Intesa Sanpaolo Group
Banca Akros S.p.A. (Banco BPM Group)
Feralpi S.p.A.
Intermonte SIM S.p.A.
Officine Maccaferri S.p.A.
AS Roma S.p.A.
Unicoop Tirreno S.p.A.
Borgosesia S.p.A.
JP Morgan Securities Plc
Phinance Partners S.p.A.
Societe Generale
Banca Finanziaria Internazione S.p.A.
Unicredit Bank AG
Finlombarda S.p.A.
Banco BPM S.p.A.
Saxa Gres S.p.A.
Banca Generali S.p.A.
Iervolino Entertainment S.p.A.
Anthilia SGR S.p.A.
Bluegem Capital Partners
Iervolino and Lady Bacardi Entertainment S.p.A.
Banca di Credito Popolare
Work highlights
- Assisted JP Morgan, as initial subscriber, in relation to the issuance of additional senior secured notes due 2022 by Inter Media Communications S.p.A. (a company controlled by Football Club Internazionale Milano).
- Assisted Intesa Sanpaolo S.p.A. in the set-up of the pan-European issuing platform (the Notes Programme) approved by the Luxembourg Commission de Surveillance du Secteur Financier (governed by English law) – for the offer of plain vanilla bonds, structured bonds, green bonds and social bonds – to retail and wholesale investors and listing on regulated and non-regulated markets and the pan-European issuing platform (the Warrants and Certificates Programme”) approved by the Luxembourg Commission de Surveillance du Secteur Financier (governed by English law) – for the offer of structured products to retail and wholesale investors and listing on regulated and non-regulated markets.
Gattai, Minoli, Partners
Gattai, Minoli, Partners' DCM group advises on a range of transactions, from the issuance of plain vanilla products to the structuring of complex and exotic multi-jurisdictional deals. Heading the structured finance department, Emanuela Campari Bernacchi has extensive experience in varying types of asset class securitisations and NPL transactions; Gaetano Carrello's practice also includes DCM work; and Valentina Lattanzi is a trade receivables expert. Salvatore Graziadei is a key counsel.
Practice head(s):
Other key lawyers:
Testimonials
‘The firm provides complete, accurate and highly professional legal assistance.‘
‘The firm is characterised by its dynamism and specialised skills, in addition to its real knowledge of the market; which are measurable in terms of the service rendered to clients.‘
‘The real strength of the firm, and particularly the structured finance department, are the professionals who make it up.‘
‘Great technical competence, high specialisation levels, experience and focus on the client; but it is above all the availability and the human and emotional intelligence skills of the team members that we appreciate most, and that differentiate them from other firms with which we have had the opportunity to collaborate.‘
‘The team is highly experienced in Italian DCM transactions, particularly securitisation. They are widely knowledgeable and understand the needs of Italian clients. I often give my personal recommendation for this team due to its efficiency, expertise, in-depth analysis of issues and commerciality.‘
‘Emanuela Campari Bernacchi has a wealth of experience and is expert in this field. She really is one of the best finance lawyers in Italy and never fails to impress.‘
‘Emanuela Campari Bernacchi and Valentina Lattanzi constantly interface with the client, and are always present and immediately responsive to clients’ needs.‘
‘Valentina Lattanzi is highly recommended and a very safe pair of hands on complex deals.‘
Key clients
Goldman Sachs
JP Morgan
BNP Paribas
UniCredit
Credit Suisse
MBCredit Solutions
Prismi
Banco BPM
Credimi
Axactor Group
Neuberger Berman
130 Servicing
200 Crowd
Viceversa
Banca Generali
Fedrigoni Group
Gianni & Origoni
Gianni & Origoni's CMD group advises issuers and underwriters on the issue of bonds (including hybrid instruments and convertible bonds, and other financial instruments) both in the Italian domestic market and the Euromarket. Richard Hamilton assists issuers, banks and private equity funds with securities offerings, including MTN programmes and bond issues; specialist in debt issues, structured finance and derivative transactions Marco Zaccagnini leads the practice from London.
Practice head(s):
Other key lawyers:
Testimonials
‘High levels of professionalism, and great for the human aspects of its people.‘
‘Undoubtedly one of the most prepared firms around, with excellent knowledge of Italian DCM features.‘
‘Over time, we have created an excellent professional and human relationship with the lawyers from this firm, who have the ability to find solutions that are realistic and balanced.‘
‘The Gianni & Origoni team stands out from other firms for its ability to propose lean solutions, even in the face of complex requests.‘
‘The professionals of Gianni & Origoni’s team are highly qualified and very helpful.‘
‘Their ability to solve problems effectively, and at the same time efficiently, sets them apart from other law firms.‘
‘Experience, availability and knowledge of the products!‘
‘Richard Hamilton has demonstrated on several occasions an approach that aims to solve the problems that emerge during structuring processes.‘
Key clients
Goldman Sachs International
Deutsche Bank (London Branch)
Poste Italiane
Banca IMI
J P Morgan Securities
UniCredit
Morgan Stanley
Mediobanca – Banca di Credito Finanziario
Citigroup Global Markets
BNP Paribas
Santander Consumer Bank
Cassa Centrale Banca – Credito Cooperativo Italiano
Generali Investments Europe
Work highlights
- Advised Astaldi on the debt instruments issued by it, in relation to the execution of its composition with creditors (on a direct going concern basis).
- Assisted Goldstory and Stroili (as to Italian law matters) with the issuance by Goldstory of high-yield bonds for €620m.
- Assisted Swiss group Selecta with the Italian law aspects of the recapitalisation of the group, which involved the restructuring of three series of senior secured notes.
Greenberg Traurig Santa Maria
Able to leverage specialist expertise from its global network, Greenberg Traurig Santa Maria's practice includes structured finance transactions, DCM and securitisation work. Corrado Angelli (a former Freshfields Bruckhaus Deringer partner) is experienced in all debt products, including securitisations and NPL trades; Alessio Gerhart Ruvolo's experience covers securitisations and assignment of receivables transactions; and the practices of both counsel Caterina Napoli and senior associate Davide Bonsi include structured finance.
Practice head(s):
Other key lawyers:
Testimonials
‘Availability, competence and flexibility.‘
‘Deep market experience, innovation and competence.‘
‘Versatility and a very commercial pragmatic approach.‘
Key clients
Illimity Bank
Cerberus Capital Management
J-Invest
Link Financial
The Carlyle Group
Värde Partners Europe
Guber Banca
Banca Farmafactoring
Gruppo Barletta
Carval
Barletta Group
Chenavari Investment Managers
Crif
Bain Capital
Solution Bank
Banca Monte dei Paschi
Sorec
Work highlights
- Advised Bain Capital on the bid for the acquisition of the television rights of the Lega Calcio, which involved plans for a high-yield offering, a revolver facility and a securitisation structure.
- Acted for the lenders on the Italian aspects of a private equity transaction, which provided for the acquisition of Industria Chimica Emiliana, such financing providing for a high-yield offering.
- Advised Gruppo Barletta, a major Italian developer and building company, on a complex private placement (arranged by Cain International) of a €120m development bond.
Hogan Lovells International LLP
Hogan Lovells International LLP's Italian practice has a strong track record in high-value securitisation and collateralised financing transactions. The group is co-led by Federico Del Monte, who has substantial experience in advising banks, financial institutions and corporations on capital markets, securitisation and structured finance deals; and Corrado Fiscale, who focuses on structured finance and is 'appreciated for his inventiveness'. At associate level, Matteo Scuriatti regularly assists with DCM transactions.
Practice head(s):
Other key lawyers:
Testimonials
‘Hogan Lovells is an international firm with an Italian structured finance department that is among the strongest and most capable in Italy.‘
‘Among the first in Italy to carry out securitisation operations in relation to renewable energy.‘
‘The team is complete in terms of skills.‘
‘Extremely collaborative and responsive in handling situations during the course of the mandate.‘
‘Diversified in its composition, the team proved to be a strong performer – better than other firms.‘
‘Corrado Fiscale is appreciated for his inventiveness, continual search for innovation and simplicity, and willingness to confront and find solutions.‘
Key clients
Apeiron Management
Apollo Global Management
Azimut
Banca di Cividale
Banca Finint
Banca IFIS
Banca IMI
Banca Monte dei Paschi di Siena
Banca Popolare di Puglia e Basilicata
Banca Progetto
Banca Santa Giulia
Banca Valsabbina
BNP Paribas
BNP Paribas Securities Services
Borsa del Credito
Cassa depositi e prestiti
CGM
CiviBank
Citibank
Citicorp
CNH Industrial Financial Services
Credit Agricole Corporate and Investment bank
Collextion Servicing
Daimler
Equita SIM
Findomestic Banca
Ferrovie dello Stato
Fiancity
Intesa Sanpaolo
KPMG Fides
Mediobanca
Mercedes Benz Financial Services Italia
Natuzzi
NordLB
Oaktree Capital Management
P&G SGR
Porsche Financial Services
Sigla
Societe Generale
UniCredit
York Capital
Work highlights
- Assisted CiviBank with setting up its first commercial paper programme for a maximum amount of €600m.
Jones Day
Jones Day's Italy practice houses a securitisation and debt practice that covers several asset classes, particularly in relation to consumer finance and salary-secured loans, auto financing, SME loans, and trade receivables. Francesco Squerzoni acts for originators, arrangers, and investors on structured finance transactions; and Vinicio Trombetti has particular experience in securitisation and covered bonds deals. Providing key support at associate level are Marco Frattini, Giuseppina Pagano and Fabio Guidi.
Practice head(s):
Other key lawyers:
Testimonials
‘International presence with the ability to cover a variety of jurisdictions while maintaining homogeneity in the quality of service and processes.‘
‘Multidisciplinary approach, with different areas covered.‘
‘Recognition of the brand on the market in terms of real estate securitisations.‘
‘Partners that are very capable and attentive to clients’ needs.‘
‘Partners who are present and available both during the structuring phase and the key phases of the negotiation.‘
‘Excellent network between countries with reference partners who are well connected to the global network.‘
‘Special mention for Francesco Squerzoni.‘
‘Francesco Squerzoni is a leader in market knowledge, and with deep experience in the Italian debt and real estate market.‘
Key clients
Intesa Sanpaolo
Banca IMI
Volkswagen Bank
FCA Bank
Banco Santander Santander Consumer Bank
Banca PSA Italia
UniCredit
Hedge Invest SGR
AnaCap Financial Europe SA SICAV-RAIF
AnaCap Credit
Prelios
Arrow Global
AGG Capital Management
ING Capital
Banca Akros
Banco BPM
Work highlights
- Advised investor AnaCap on the structuring and implementation of a real estate securitisation.
- Advised Banco Santander and Banca PSA Italia (as drafting counsel) on an up-to €850m, partially paid, securitisation of receivables deriving from auto loans granted by Banca PSA Italia.
- Advised Intesa SanPaolo (as arranger and senior investor of ABS notes) on a securitisation transaction.