News 04.06.2024

PedersoliGattai in a €100 million “tap” private placement bond issue

PedersoliGattai advised Engineering Ingegneria Informatica SpA and the Engineering Group companies, portfolio company of Bain Capital and NB Renaissance, Italy’s leading provider of IT services, software and digital solutions, in the private placement of a €100 million bond issue due to February 2028, a so-called tap issuance to the original bond issued by Centurion Bidco S.p.A. (subsequently merged into Engineering) on 17 May 2023 in the amount of €385 million.

The bonds were listed on the Luxembourg Stock Exchange and admitted for trading on the Euro MTF market organised and managed by the latter.

Proceeds of the bond offering will be used to meet the working capital requirements of Engineering Group companies, in particular by restoring the availability of the existing €195 million revolving credit facility.

The new bond issue, in addition to the 2023 bond issue relating, in particular, to the refinancing of the acquisition of Be Shaping The Future SpA (now Be Shaping The Future Management Consulting SpA), supports the bond issuance carried out in the context of the acquisition of Engineering by Bain Capital and NB Renaissance during 2020, increasing the overall financing placed on the market to more than €1 billion.

PedersoliGattai team that supported the Group General Counsel Sabrina Delle Curti, and the Corporate Affairs Manager Federica Milazzo was led by Gaetano Carrello (partner) and composed of Gian Luca Coggiola (partner), Silvia Pasqualini (senior counsel), including Piero Piccolo and Alessia Abate (associates).

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