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Firm involved in transaction to provide financing of 240 million to Arvedi
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Advised by White & Case and Tremonti Vitali Romagnoli Piccardi, the steelworks group Arvedi has reached an agreement with a pool of banks, advised by lawyers from Clifford Chance, for a medium-long term credit facility of 240 million euro that is intended to repay in full its existing indebtedness (29 million of capital and interest) arising from the original loan contract and principally, to provide finance for investments to be made under the Industrial Plan 2015/2020.
The White & Case team was led by partner Iacopo Canino, and included associates Silvia Pasqualini and Adriana Tisi. Acting from Tremonti, who advised on the tax aspects of the deal on behalf of Arvedi Group, were Fabrizio Colombo and Stefania Trezzini.
The Clifford Chance team was led by partner Giuseppe De Palma, and included senior associate Pasquale Bifulco and trainee Francesco Napoli, as well as counsel Marco Palanca and associate Roberto Ingrassia in relation to tax aspects.
The syndicate of banks involved in the deal was composed of Intesa Sanpaolo through Banca IMI, Unicredit, Banca Popolare di Milano, Monte dei Paschi in the roles of Mandated Lead Arrangers and Bookrunners and also comprised Cariparma, Banca del Mezzogiorno, Banca Popolare dell’Emilia Romagna and UBI Banca as lenders, with Banca IMI acting as Agent Bank.
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Tremonti Vitali Romagnoli Piccardi e Associati was among the firms which advised on the deal that resulted in the bank debt refinancing of Acciaieria Arvedi and the group of companies headed by Finarvedi.
White & Case advised the companies from the Finarvedi group, while Clifford Chance advised the pool of banks that included Banca IMI as Agent Bank; UniCredit, Banca Popolare di Milano and Monte dei Paschi di Siena as mandated lead arrangers and bookrunners; Intesa Sanpaolo, UniCredit, Bpm, Mps, Banca del Mezzogiorno, Banca Popolare dell’Emilia Romagna, Cassa di Risparmio di Parma, Cassa di Risparmio di Piacenza and Unione di Banche Italiane as financing banks.
The White & Case team was led by partners Iacopo Canino and Michael Immordino, and included associates Silvia Pasqualini and Adriana Tisi.
The Clifford Chance team was led by partner Giuseppe De Palma, and included associates Pasquale Bifulco and Francesco Napoli. The tax aspects of the deal on behalf of Arvedi Group, were advised on by Tremonti Vitali Romagnoli Piccardi e Associati’s team of Fabrizio Colombo and Stefania Trezzini.
The refinancing was concluded by means of a term credit facility granted to Acciaieria Arvedi, guaranteed by the head of the group Finarvedi and Siderurgica Triestina for a total amount of 240 million euro.
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