The LAS team is led by Equity Partner Domitilla de Nucci and Principal Consultant Valeria Fraioli, with the support of Manager Tatiana Iaizzo, Senior Analyst Sara Lelli, and Analyst Aurora D’Elia.

The bond loan amounts to €10 million and will be issued in multiple tranches.

Yeldo was advised by law firm Legance, with a team coordinated by Partner Antonio Siciliano, supported by Senior Associate Alice Giuliano and Associate Nicla Muscillo.

The Issuer was assisted by law firm PedersoliGattai, with a team led by Equity Partner Valentina Lattanzi, alongside Senior Associate Mattia Valdinoci and Associates Carlotta Antonelli and Antonio Iuliano.

Loan Agency Services (LAS) is acting as Issuing Agent, Calculation Agent, Common Representative, and Paying Agent in partnership with BFF Bank S.p.A. for the non-convertible, non-subordinated bond issuance by Ares S.r.l., a company specialized in the acquisition, enhancement, and redevelopment of real estate assets. The proceeds from the bond issuance will be used by Ares S.r.l. to finance the acquisition and development of two properties located in Ibiza, with the project being entrusted to Testi Costruzioni S.r.l., a company highly specialized in both green field construction and the redevelopment of existing buildings.

The company issued the debt securities in two tranches: the first, amounting to €4 million, on July 26, 2024, and the second, amounting to €3 million, on August 2, 2024. The securities were fully subscribed by Yeldo Ibiza SCSp.

LAS team is led by Equity Partner Domitilla de Nucci, supported by Manager Tatiana Iaizzo and Senior Analyst Sara Lelli.

The issuer was assisted by the law firm PedersoliGattai, with a team consisting of Partner Valentina Lattanzi, Senior Associate Mattia Valdinoci, and Associate Carlotta Antonelli.

The Subscriber was advised by the law firm Legance, with a team led by Partner Antonio Siciliano, Senior Associate Alice Giuliano, and Associates Nicla Muscillo and Claudia Rossi. The tax aspects were handled by Partner Claudia Gregori and Senior Counsel Francesco Di Bari.

Sagitta recently completed the fund’s first closing, raising €300 million with the support of Europa Investimenti as advisor and Zenith Global as master servicer. The capital was contributed by major Italian banks. The fund’s objective is to maximize the recovery rate of medium- to long-term exposures by supporting corporate restructuring and turnaround transactions, and by providing new financing when necessary.

Within this framework, LAS actively supports Sagitta by combining its tailored professional services with the use of CAL LAS, a proprietary, flexible, and customizable platform fully developed by LAS. The system ensures complete credit lifecycle management—from onboarding to oversight of forecasts, covenants, and documentation.

Leveraging its established experience in agency roles, LAS has also stepped in as facility agent, restructuring agent, security agent, and support to the SACE agent for the loans acquired by the fund, facilitating and accelerating the replacement processes of the selling banks.

LAS team is led by Brunella Amoruso, Equity Partner and Head of the Credit Servicing practice, supported by Senior Manager Cristina Bizzarri, Associate Alice Laiso, and Analyst Maikol Vannucci.

Brunella Amoruso commented: “We are thrilled to be working with Sagitta on this important project, bringing our deep expertise in UTP credit management and our specialized IT tools to the table. Our goal is to continuously improve efficiency in credit servicing processes, ensuring reliable, timely, and practical support to the Sagitta team so they can focus on their core business activities.”

Claudio Nardone, CEO of Sagitta, added: “Investments in UTP loans and the provision of new financing in restructuring contexts require the ability to manage complexity and non-standard ongoing processes. In LAS, we have found a knowledgeable partner with distinctive expertise in our sector, capable of supporting us through customized tools both in the onboarding and monitoring of the fund’s credit lines, as well as in SACE Agent and bank agent activities—roles that are key to successful transactions and asset valorisation.

Loan Agency Services is acting as Agent for the Debt Restructuring Agreement of Grandi Molini, with a team led by Equity Partner Gaetano La Puglia, supported by Senior Analyst Martina Sirotti and Analyst Sara Bizzarri.

The Agreement was signed by Grandi Molini, a long-established player in the Italian milling industry, and its creditors: AMCO, Banca IFIS, Clessidra Capital Credit SGR, Finint Investment SGR, and Intesa Sanpaolo, advised by law firm Molinari.

KPMG Advisory prepared the 2024–2028 business and financial plan, while the financial restructuring was structured by Mediobanca. Massimiliano Bonamini acted as Plan Certifier. The company was assisted on legal matters by law firm Gitti & Partners.

The company primarily operates in the development of residential and commercial buildings, both through direct construction and contracting. Its core activities also include the purchase and sale of building land, along with the acquisition, leasing, management, and maintenance of real estate assets.

The bond issuance amounts to €12 million and will be carried out in multiple tranches, with the first tranche scheduled for April 11, 2025.

The LAS team is led by Equity Partner Domitilla de Nucci and Principal Consultant Valeria Fraioli, supported by Manager Tatiana Iaizzo, Senior Analyst Sara Lelli, and Analyst Aurora D’Elia.

TThe law firm Orrick assisted Yeldo with a team led by Partner Marina Balzano, supported by Senior Associate Filippo Nola and Associate Claudia Loriggio.

The Issuer was advised by the law firm CP LAW, with a team led by Attorney Dino Costanza.

Il team LAS è coordinato dall’Equity Partner Domitilla de Nucci, coadiuvata dalla Principal Consultant Valeria Fraioli, dalla Senior Analyst Sara Lelli e dall’Analyst Aurora D’Elia. The LAS team is led by Equity Partner Domitilla de Nucci, supported by Principal Consultant Valeria Fraioli, Senior Analyst Sara Lelli, and Analyst Aurora D’Elia.

The MGM Group, a European manufacturing hub specializing in outdoor technical footwear for mountain activities, currently operates internationally in over 47 countries across Europe, Asia, and the Americas.

The Anthilia Capital Partners team was led by Partner and Head of Private Capital Barbara Ellero, Senior Investment Manager Tobia Dian, and Senior Analyst Francesco Rinaldi.

Anthilia Capital Partners and the Company were advised by law firm ADVANT Nctm, with a team composed of Equity Partner Giovanni de’ Capitani, Counsel Bianca Macrina, and Associate Andrea Bertoni.

Recap Consulting supported the Company with a team coordinated by Partner Loredana Dora and Senior Legal Advisor Luisa Cominoli. Banca Profilo acted as financial advisor with a team consisting of Head of Investment Banking & Strategic Equity Marco Baga, Deputy Head Alessio Muretti, and Investment Banking Associate Alessio Mastronicola.

Our team was led by Equity Partner Domitilla de Nucci, supported by Associate Giuseppe Guerriero and Analyst Sharon Castellana.

The €5 million issuance was fully subscribed by Cassa Depositi e Prestiti and guaranteed by Sace. The proceeds will be used to support the Group’s growth plans across the various regions in which it operates. These include extraordinary maintenance work on buildings, plants, and machinery at production sites in Sicily, Apulia, Veneto, Lombardy, Emilia-Romagna, and Abruzzo, as well as the purchase of new equipment and machinery for grape processing, to be integrated into the winemaking and wine storage processes.

Equita acted as Arranger and Dealer with a team led by Managing Director Alessandro Raiola, Director Silvia Barone, and Associate Riccardo Stirpe.

Advant NCTM acted as legal counsel to the investor, with a team comprising Partner Roberto de Nardis di Prata, Counsel Andrea Iovieno, and Associate Andrea Bertoni.

Loan Agency Services acts as the Agent for the Loan Agreement of the Bracca-Pineta Group, as well as the Calculation Agent and Security Agent in connection with the bond issuance by AVM SGR S.p.A..

The LAS team is coordinated by Equity Partner Domitilla de Nucci, supported by Manager Tatiana Iaizzo, Senior Analyst Sara Lelli and Analyst Michela Agosti.

The signing of the loan agreement and the bond issuance are part of a broader transaction carried out by AVM, which, through the Italian Fine Food Private Capital Fund, acquired a controlling stake in the Bracca-Pineta Group. This group is active in the mineral and oligomineral water sector, with a turnover of around 55 million euros and steady growth. The acquisition was made alongside a pool of private investors, including Alexa Invest, Gruppo Alfano Holding, Aretusa, Alberto Bombassei, Vitaliano Borromeo, Banca Ifis, Massimo Moratti Sapa, and the Gruppo Som of Udine.

The transaction was supported by a pool of banks, including Banco BPM S.p.A., Intesa Sanpaolo S.p.A., BPER Banca S.p.A., Cassa di Risparmio di Fermo S.p.A., Iccrea Banca S.p.A., Banca di Credito Cooperativo di Milano S.C., Banca del Fucino S.p.A., all advised by the law firm Chiomenti. Two Private Debt Funds, Tenax Capital Limited and Finint Investment SGR, also participated, with legal support from Simmons & Simmons.

In this transaction, AVM SGR was advised by Appeal Strategy & Finance and Hoshin Corporate Finance as financial advisors, while the legal aspects were handled by Pedersoli Gattai and LCA Studio Legale. The financial, tax, and business due diligence was carried out by KPMG.

The Bracca-Pineta Group was advised by the law firm of Dr. Roberto Perego, the Agaf Law Firm, and Engineer Marco Costaguta.

For the completion of the transaction, the parties relied on RF Notai.

Loan Agency Services acted as the Security Agent in the financing obtained by Protos S.p.A., a leading independent technical consultancy firm, with a team led by Equity Partner Domitilla de Nucci, supported by Manager Tatiana Iaizzo, Associate Giammarco Panunzi and Analyst Gaetano Fioretti.

The transaction involved the acquisition of a controlling stake in Protos by H.I.G. Capital, in partnership with the current management team of the group.

The buyer was advised by the law firm Pavia e Ansaldo, with a team led by Partner Alberto Bianco, covering all M&A and corporate aspects related to the due diligence and contractual matters. Partner Francesco Vitella was involved in the labor law aspects of the transaction.

H.I.G. was also supported by Advant Nctm for all aspects related to the financing, with a team coordinated by Partner Giovanni de’ Capitani di Vimercate and Counsel Bianca Macrina, and for the tax due diligence, with a team led by Partner Emidio Cacciapuoti and Counsel Davide Massiglia. The structure of the transaction was handled by Spada Partners, with a team led by Partner Guido Sazbon.

Legance advised Protos and the selling shareholders on all legal and tax aspects related to the sale and reinvestment, with a team led by Partners Gian Paolo Tagariello and Claudia Gregori.

The transaction was financed through a senior unitranche loan provided by Capza, a pan-European private capital platform focused on small and medium-sized companies, with assistance from a team at Orrick coordinated by Partner Marina Balzano and Of Counsel Giulio Asquini. It was also financed through a super senior loan provided by Crédit Agricole Italia, advised by Chiomenti with a team led by Partners Davide D’Affronto and Nicholas Lasagna, Counsel Maria Ilaria Griffo and Fraser Wood, and coordinated by Of Counsel Maurizio Fresca for the tax aspects.

Loan Agency Services is the Agent for the Metalcam agreement, executed under the restructuring plan in accordance with Article 56 of the Italian Insolvency Code (CCII). The agreement was signed by the company, its shareholders, and the financial creditors, following the completion of its debt restructuring process.

LAS team is coordinated by Equity Partner Gaetano La Puglia, assisted by Manager Tatiana Iaizzo, Associate Giammarco Panunzi, and Analyst Alberto Lucciola.

Under the terms of the agreement, Metalcam, a company specializing in the production of custom steel forgings, has fully settled its outstanding debts with financial creditors through an agreement that also consolidated the position of Carlo Tassara SpA in the company’s shareholding structure. Società Camuna di Partecipazioni has also joined the shareholding structure by acquiring the shares in Metalcam held by 3ms Holding 1 and 3ms Holding 2.

Carlo Tassara SpA and Società Camuna di Partecipazioni were advised by BonelliErede with a team led by Partner Riccardo Bordi and Senior Associate Federico Sacchi, as well as by Giuggioli & Partners Law Firm with a team coordinated by Senior Partner Pier Filippo Giuggioli and Partner Adriano Curti.

Metalcam è stata assistita da Ashurst nella negoziazione con i creditori finanziari e i soci, con un team guidato dal Partner Antonio Azzarà supportato dall’Associate Davide Cafagna e dal Trainee Riccardo Verrastro. I creditori finanziari sono stati assistiti da DLA Piper con un team coordinato dal Senior Partner Nino Lombardo e dal Partner Ugo D. Calo’ e composto dal Partner Giampiero Priori e da Federica Del Gaiso, nonché da PedersoliGattai con un team guidato dalla Partner Maura Magioncalda con la Salary Partner Alessandra De Cantellis e l’Associate Riccardo Ramella.