Shearman & Sterling acted as US and Italian law counsel to J.P. Morgan, UniCredit, Banca IMI and Mediobanca in the high yield bond issue of Manutencoop Facility Management for a total amount of €425 million, and to JPMorgan Chase, Cassa di Risparmio in Bologna, Mediobanca and UniCredit as lenders in the related €30 million Super Senior Revolving Credit Facility.

Shearman & Sterling represented the joint bookrunners and initial purchasers, J.P. Morgan Securities plc, UniCredit Bank AG, Banca IMI S.p.A. and Mediobanca – Banca di Credito Finanziario S.p.A., in connection with the offering by Manutencoop Facility Management S.p.A. (“MFM”) of €425 million 8.5% Senior Secured Notes due 2020, and the lenders, JPMorgan Chase NA, Milan Branch, Cassa di Risparmio in Bologna S.p.A., Mediobanca – Banca di Credito Finanziario S.p.A. and UniCredit S.p.A., in connection with a related €30 million super senior revolving credit facility. The transactions closed on August 2. This is the first bond issue of MFM reserved to institutional investors in the international market.

The Shearman & Sterling team advising the initial purchasers included partners Jacques McChesney (London–Capital Markets), Tobia Croff (Milan–Mergers & Acquisitions/Capital Markets) and Kristen Garry (Washington, DC–Tax); counsel Tommaso Tosi (Milan–Capital Markets); and associates Maria Antonietta Romeo (Rome–Capital Markets) and Mary Jo Lang (Washington, DC–Tax); the Shearman & Sterling team advising the lenders included partner Iain Goalen (London–Finance), counsel Valerio Fontanesi (Milan–Finance), associate Vieri Parigi (Milan–Finance) and trainee Gaetano Petroni (Milan–Finance). Partner Luca Dal Cerro and associate Riccardo Petrelli of Studio Tremonti Vitali Romagnoli e Piccardi advised on the Italian tax aspects of the transaction.