IFLR1000

Onorato Armatori €560 million refinancing

12/2/2016
Financing, Investment grade bond/note issue, Refinancing
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€ 560 million

$ 601.708 million

Completed

12/2/2016

Overview:

  • Onorato Armator and subsidiaries Moby and Compagnia Italiana di Navigazione have undertaken a €560 million refinancing.
  • The deal consists of a €300 million senior secured notes issues and a €250 million term loan.
  • The 7.75% bonds mature in 2023.
  • Onorato Armatori and its subsidiaries are Italian ferry and cruise ship operators.
  • Goldman Sachs, JPMorgan, UniCredit, Banca IMI, Banca Akros and Jefferies acted as initial purchasers,
  • JPMorgan, Goldman Sachs, UniCredit, Banca IMI, Banca Popolare di Milano, Banca Monte dei Paschi di Siena acted as lenders on the credit facility.

Sam Duke - Editor

 

Jurisdiction:

Italy

Deal types:

Financing
Investment grade bond/note issue
Refinancing

Practice areas:

Banking
Capital markets : Debt

Industry sector:

Transport

Firms:
Latham & Watkins

Party: JPMorgan Chase (Arranger, Bookrunner, Initial purchaser)

Party: Goldman Sachs (Arranger, Bookrunner, Initial purchaser)

Party: Unicredit (Arranger, Bookrunner, Initial purchaser)

Party: Banca IMI (Arranger, Bookrunner, Initial purchaser)

Party: Banca Popolare di Milano (Arranger, Bookrunner)

Party: Banca Monte dei Paschi di Siena (Arranger)

Party: Jefferies Financial (Initial purchaser)

Party: Banca Akros (Initial purchaser)

Lawyers: Antonio Coletti, Jeffrey Lawlis

White & Case

Party: Onorato Armatori (Borrower, Issuer)

Party: Moby (Borrower, Issuer)

Party: Compagnia Italiana di Navigazione (Borrower, Issuer)

Lawyers: Iacopo Canino, Michael Immordino

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