Grimaldi Studio Legale has advised a syndicate of banks which comprises Banca IMI, UniCredit Bank AG, Morgan Stanley, in relation to the first Italian project bond (namely, the 600 million Euro bond issuance by Autostrada Brescia Padova S.p.A., belonging to the Gruppo A4 Holding).
The Grimaldi Studio Legale team which has advised on the transaction was led by Francesco Sciaudone and included Maria Chiara Cieri, Cristiano Chiofalo and Carlo Cugnasca. Partners Carmine Oncia, Luca Dezzani and Daniela Fioretti were also involved.
“We are truly proud for having contributed to the first Italian issuance of project bonds– says Francesco Sciaudone. This shows that the recourse to capital markets for funding infrastructural projects is possible and that project bonds could prove to be key to re-launch the infrastructural investments in Italy and Europe. It is very significant that the demand (thanks to the role of the banks and caliber of the Sponsor) has exceeded 2 billion Euro, three times higher than the offer. It is also a very good news for the so called Junker Plan”.
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