Shearman & Sterling advised Astaldi S.p.A. on its offer, completed December 4, of €500,000,000 7.125% Senior Notes due 2020, and on its additional offer, completed December 9, of €100,000,000 7.125% Senior Notes due 2020. The Notes have been admitted to be listed on the Official List of the Luxembourg Stock Exchange and to trading on the Luxembourg Stock Exchange’s Euro MTF market on their closing dates. The Notes are senior obligations of the Issuer and are not guaranteed and have been offered only to qualified investors outside the United States of America pursuant to Regulation S under the US Securities Act, and to qualified institutional buyers, within the meaning of Rule 144A under the US Securities Act.
The Astaldi Group is a leading general contractor in Italy, engaged in the business of design, construction and management of public infrastructures and large-scale civil engineering works, mainly in the transport infrastructure, energy production plants, civil and industrial constructions and plant engineering sectors. It has been listed on the Italian Stock Exchange since 2002.
The banks involved on the deal as Initial Purchasers were: Banca IMI, BBVA, BNP Paribas, Crédit Agricole, Credit Suisse, Deutsche Bank, HSBC, ING, Natixis, and UniCredit Bank. HSBC acted as trustee, paying agent, transfer agent and registrar and Bank of New York Mellon acted as Luxembourg Listing Agent.
Shearman & Sterling lawyers included partners Tobia Croff (Milan-Capital Markets/Mergers & Acquisitions) and Jacques McChesney (London-Capital Markets), counsel Tommaso Tosi (Milan-Capital Markets/Mergers & Acquisitions), associates Maria Antonietta Romeo and Giovanni Cirelli (both Rome-Capital Markets/Mergers & Acquisitions), and trainees Carmelo Contente, Regina Caldarera, Mattia Soldan and Luca Ranieri (all Rome-Capital Markets/Mergers & Acquisitions). Other lawyers advising on the transaction included partners Kristen Garry (Washington, DC-Tax) and Nathan Greene (New York-Investment Funds) and associates Elvira Aliende Rodriguez (Brussels-Antitrust), Yaw Asare (London-Capital Markets), Melissa Henkel (Washington, DC-Tax) and Nina Garnham (London-Investment Funds).
