Ashurst has advised lenders on the €1.818 billion project financing of the Brebemi toll road.  The lenders comprise Centrobanca - Banca di Credito Finanziario e Mobiliare S.p.A., Credito Bergamasco S.p.A., Intesa Sanpaolo S.p.A., MPS Capital Services Banca per le Imprese S.p.A. and UniCredit S.p.A. Amongst the institutional investors there are the European Investment Bank and Cassa Depositi e Prestiti S.p.A., with SACE S.p.A. as guarantor. Banco Popolare is acting as co-guarantor.

The financing has been structured through a €953 million facility granted by the commercial banks, a €760 million facility granted by Cassa Depositi e Prestiti and a €105.5 million facility granted by BEI. With respect to the €953 million facility, approximately €600 million was provided by EIB and €70 million by CDP, on which Ashurst also advised.

The Brebemi toll-road, a key infrastructure for the heavy-industrialized Lombardy region, will connect the town of Brescia to Milan and is 62.1 km long with an additional 35 km of new interconnecting roads.

The Ashurst team, led by Franco Vigliano, head of Italy, comprised counsel Nunzio Bicchieri, senior associate Simone Egidi and associates Francesca Brilli, Federica Periale and Giulia Giordani. Partner Paola Flora advised on tax aspects.