Tirreno Power €1 billion financial restructuring

Overview:

• Tirreno Power has restructured around €1 billion of its debt.
• The restructuring is pursuant to article 182 of the Italian Bankruptcy Law.
• Tirreno Power is owned 50% by Energia Italiana and 50% by GDF Suez Energia Italia. Energua italia is controlled by Sorgenia.
• Banco Bilbao, BNP Paribas, Cassa Depositi e Prestiti, Credit Agricole, ING, Intesa Sanpaolo, Mediobanca, Banca Monte dei Paschi di Siena, Portigon and UniCredit were the financing banks.
• Leonardo & Co acted as financial adviser for Tirreno Power, Blackstone advised GDF Suez and Lazard advised Energia Italiana.

Sam Duke - Editor