A&O Shearman

Our cross-border leveraged finance team advised CVC, a leading global private markets manager, on the financing in connection with the extension of its partnership with Multiversity through a CVC managed continuation fund. Multiversity has demonstrated impressive performance since CVC Fund VII’s initial investment in 2019, underpinned by its ability to unlock an underserved and largely underpenetrated Italian undergraduate market The financing consisted of EUR1.1bn of new senior secured notes, EUR765m of existing senior secured notes and EUR194.5m of RCF. The team was led by sponsor side leveraged finance partner and private equity sector lead Neil Sinha, high yield partner John Kicken and sponsor side leveraged finance partner Nick Hallam in London together with teams in Italy and Luxembourg. Read more here: https://lnkd.in/ey8nte7a

Our cross-border team advised the pool of financial institutions providing a EUR3.4 billion financing to Prysmian, a leading global cabling solutions company, in order to fund the strategic acquisition of North America wire manufacturer Encore Wire Corporation. The acquisition will strengthen Prysmian’s leadership position in North America, as Prysmian will benefit from the efficiency and innovation within Encore Wire’s unique production, distribution process and service levels. Partner Stefano Sennhauser and counsel Frederic Demeulenaere, Milan, led the team alongside consulting lawyer Livia Talenti, New York, with support from senior associate Evangeline Schumacher, associate Alessandro Carta Mantiglia Pasini and trainee James Ahari. Read more here: https://ow.ly/kpwZ50SK7rE

Protecting investments against unexpected disputes should be an integral part of any investor’s approach to tapping the many opportunities in ASEAN.   In this article, Singapore-based partners Sheila Ahuja and Emmanuel Jacomy, and counsel Jae Hee Suh 서재희, consider how a layered approach to investment protection can work. Read their analysis here:https://lnkd.in/eHwJuh5H

“We are delighted to have advised GEMS on this strategic transaction, which underscores the continued appetite from blue-chip investors for quality assets in the region” David Foster, managing partner (Middle East, Turkey and Africa). GEMS has grown from a single school started by a family of teachers in 1959 to become the world’s largest provider of private K-12 education by revenue, educating over 140,000 students and providing various international school curricula across multiple price points with adjacent school services. Discover more here: https://ow.ly/gph050SHUuM

We are expanding our market-leading global Debt Finance capabilities with the strategic hire of Filippo Crosara as a lender-side leveraged finance partner in London. Denise Gibson, U.K. managing partner and Debt Finance partner said: “We’re thrilled to welcome Fil. He brings with him first-class industry and market knowledge. Fil has over 18 years of experience in the legal and banking sectors, combining a very robust technical background with commercial acumen and industry awareness. We look forward to having him with us in the team.” Read more here: https://ow.ly/yxCn50SHlOV

“We are at the forefront of a pivotal moment in the Italian financial market, thanks to the Fintech Decree enabling this groundbreaking transaction through the adoption of Distributed Ledger Technology and blockchain for bond issues. We are proud to have been alongside Intesa Sanpaolo in this deal, our role is a testament to our expertise in navigating uncharted legal territories. This transaction applies smart contracts and identifies new solutions for central bank money settlement for operations carried out on DLT, marking a significant step forward as it paves the way for the development of a robust digital bond market in Italy” commented Emiliano La Sala, counsel and head of domestic debt capital markets and fintech group coordinator in Italy. Our team advising Intesa Sanpaolo was led by counsel Emiliano La Sala, with support of partner Cristiano Tommasi, and comprised associate Giulia Ghiandai and trainee Francesco Laurenti. Partner Francesco Guelfi advised on tax-related matters. Read more here: https://ow.ly/8kyr50SFY1I

We’re strengthening our global Debt Finance practice with the hire of Parisa Clovis who joins our market leading sponsor side debt finance practice in London to lead on sponsor side fund finance in Europe. Neil Sinha, sponsor side leveraged finance partner and private equity sector lead, Europe, said “We have built a top tier sponsor side leveraged finance practice in Europe and work with fantastic private equity clients who are showing greater demand for dedicated sponsor-side fund finance expertise. Parisa has worked with some of the largest and highest profile funds in the market and will be a great fit for our team and the firm and the right person to lead the sponsor side fund finance build out in Europe. We are delighted she is joining us.” Get to know Parisa Clovis: https://ow.ly/RTqf50SE1Yx

"This landmark transaction represents the largest digital infrastructure deal in Italy in the last 5 years. The complex nature and scale of the deal, demonstrate the expertise across the team. We are grateful for the opportunity to have supported the lenders. Congratulations to all parties involved.” Annette Kurdian, partner. The multi-jurisdictional team advising on the transaction was led by partners Annette Kurdian and Pietro Scarfone, supported by senior associates James Ashcroft and Diogo Casqueiro and associates Leonie Adam, Ruby-Jane van Zyl and Valentina Calò. Counsels Elia Ferdinando Clarizia and Antonio Ferri and associates Marta Avara and Doris Ceoromila also advised on the deal. Read more here: https://ow.ly/7Zx350SAo40

Co-operative Bank issued its first covered bond since 2011, marking their first covered bond issuance in 13 years and their first asset-backed transaction since 2019. “It has been a pleasure to assist Co-operative Bank’s team on the restructuring of their covered bond program and the subsequent issuance. This transaction marks the successful and welcome return of Co-operative Bank as an active covered bond issuer and underscores A&O Shearman as the pre-eminent adviser in relation to UK covered bonds.” Partner, Daniel Hill led the team alongside senior associate Graeme MacDonald and associate and Helen Stephen. Read more here: https://ow.ly/syo250SzF00

EQT looks to us to advise on the sale of Idealista, the leading real estate platform in Spain, Italy, and Portugal to Cinven in a transaction valued at EUR 2.9 billion. EQT originally acquired Idealista in 2020 in a deal that valued the firm at EUR 1.3 billion and will retain an 18 percent share in the company following the transaction. Iñigo del Val, lead partner said “We are very proud that EQT has once again trusted in us for such a relevant deal for them. We are delighted to have supported them in their successful journey with the company” Read more here: https://ow.ly/GLPh50SzBNQ #AOShearman