Latham & Watkins Advises on €725 Million Bond Issuance by Itelyum

Latham & Watkins has advised the pool of banks, composed of Bank of America, J.P. Morgan, Goldman Sachs, Intesa Sanpaolo, Natixis, and UniCredit, in connection with the new €725 million bond issuance due 2030 by Itelyum, specialized in the recycling and valorization of industrial waste, controlled by the private equity fund Stirling Square Capital Partners and Deutsche Beteiligungs AG. The issuance will allow the development of the company's business plan, the redemption of previously issued bonds, and the repayment of existing financial debt. In the context of the transaction, Itelyum also entered into a new financing agreement that will provide a revolving credit line for an amount up to €100 million.

The Latham team was led by partner Jeff Lawlis and counsel Giorgio Ignazzi with associate Ruggero M. Barelli for US corporate matters. Advice was also provided on Italian finance matters by partners Marcello Bragliani and Antongiulio Scialpi and associate Pasquale Spiezio; on golden power and regulatory matters by partner Cesare Milani and associate Edoardo Cassinelli; on English finance matters by partner Tracy Liu and associates Simba Gonondo and Patrick McDonald; and on US tax matters by partner Jocelyn Noll.