Ashurst has advised the three mandated lead arrangers Natixis, BNP Paribas CIB and Credito Valtellinese as well as the French infrastructure debt fund SCOR Infrastructure Loans II in relation to the € 222 million project bond and project finance refinancing of Etrion Corporation's 53.5 MW Italian solar portfolio.

This deal is the second project bond in Italy in the renewables sector after Antin Solar closed in November 2014, also arranged by Natixis and advised by Ashurst.

The project bond and the project finance loan are both non-recourse, senior, secured, unwrapped and unrated and are granted to the Italian parent company Etrion S.p.A. The bond is listed on the ExtraMOT PRO market managed by the Italian Stock Exchange.

The Ashurst's team was led by energy and resources partner Carloandrea Meacci and by international finance partner Gianluca Fanti, assisted by counsel Umberto Antonelli, Giuseppe Barra Caracciolo and Elena Giuffrè, associates Federica Periale, Nicola Toscano and Andrea Semmola.