Selected deals

L&B Partners S.p.A. acted as financial advisor on the €58 million facility for the acquisition of 17 hydroelectric plants of Swisspower Renewable AG.

On 13 June 2017, the Swisspower Renewable AG group entered into a facility agreement totalling €58,000,000, operating through the company Idrovacchelli S.r.l. as borrower and with 5 subsidiaries as guarantors. Banca IMI S.p.A. assumed the role of Mandated Lead Arranger, Bookrunner and Facility Agent whereas Intesa Sanpaolo S.p.A. acted as lender and custodian bank. The loan was directed at 17 hydroelectric plants located in Veneto, Lombardy, Emilia Romagna and Piedmont, accounting for a total installed capacity of 26.15 MW and an estimated annual production of 109.3 GWh.

The financing transaction was aimed at optimising the financial structure of the hydroelectric portfolio of Swisspower Renewables and provided the group with additional financial resources to continue its growth plan and implement new investments in the renewable energy sector in Italy.

The Swisspower Renewables group was advised, for the structuring of the transaction, negotiation and finalisation of the legal documentation, by L&B Partners Avvocati Associati with a team comprising its partner Michele Di Terlizzi, assisted by Giulia Paternostro, Vincenzo Telera, Giuseppe Candela and Paolo Pisani. Law firm Paul Hastings also acted as legal advisor with a team comprising the partners Lorenzo Parola and Marc-Alexandre Courtejoie, assisted by Gabriella Abbattista, Teresa Arnoni, Andrea Coluzzi and Karen Stretch.

L&B Partners S.p.A., on the other hand, advised the Swisspower Renewables group as financial and transaction advisor, with a team composed of partner Rocco Giorgio, assisted by Stefano Galbusera and Luca Marniga.

The law firm Legance assisted Banca IMI S.p.A. and Intesa Sanpaolo S.p.A. in the drafting, negotiation and finalisation of the legal documentation, with a team composed of partner Monica Colombera, assisted by Simone Ambrogi and Stefania Serena Monghini. Banca IMI S.p.A. and Intesa Sanpaolo S.p.A. received technical due diligence advice from the engineering firm Zollet Ingegneria with a team comprising the engineers Vittorio Zollet and Nicola D’Este. A team from KPMG provided tax due diligence advice with partners Giacomo Perrone and Silvio Falcone. The consultant Aon took care of the insurance due diligence activities.

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