Global law firm Hogan Lovells Cadwalader has advised Credito Emiliano S.p.A. (Credem) on the update and renewal of its €1 billion Multi-Currency Commercial Paper Programme.
A key development introduced as part of the renewal of the programme is the issuance by Borsa Italiana of a declaration of eligibility for listing in respect of the commercial paper notes issued under the programme, enabling their admission to trading on the professional segment of Euronext Access Milan, the multilateral trading facility organised and managed by Borsa Italiana.
Crédit Agricole CIB, acted as arranger. Banca Akros S.p.A., Banco Santander S.A., BNP Paribas, Equita SIM S.p.A. and ING Bank N.V. acted as dealers. Citibank, N.A. acted as Paying Agent.
The programme has been established in accordance with the requirements of the Short-Term European Paper (STEP) Market Convention and has obtained the related STEP Label certification.
The Hogan Lovells Cadwalader team that advised on the transaction was led by partner Annalisa Dentoni-Litta, supported by senior associate Roberto Trionte and associate Armando Consiglio. Head of tax Italy Serena Pietrosanti and counsel Maria Cristina Conte advises on the tax aspects
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