Azzurra Aeroporti S.p.A. has entered into a new senior secured term loan facility of EUR360 million, expiring in May 2027, with extension options up to January 2029. The purpose of the facility is to finance the redemption of the first tranche of the existing EUR360m notes, expiring in May 2024 (ISIN XS2208277983).
The facility was agreed with a pool of Italian and international banks and financial institutions advised by Allen & Overy: BNL BNP Paribas, BPER Banca, Industrial and Commercial Bank of China (Europe), Intesa Sanpaolo – IMI Corporate & Investment Banking, MUFG Bank, Ltd. and UniCredit.
In accordance with Mundys Group’s commitment to sustainable growth, the transaction features a conversion option to Sustainability-linked Facility to be exercised within six months of the financial closing of the transaction.
The Allen & Overy team on the transaction was led by counsel Frederic Demeulenaere, with counsel Luca Maffia, associate Valentina Calò and trainee Euan Middleton. Counsel Elia Ferdinando Clarizia advised on tax aspects.
