Advising Prysmian Group on €1,000m refinancing

03 May 2019

International law firm Simmons & Simmons has advised the Prysmian Group (the world leader in the energy and telecom cable systems industry) on the refinancing of a €1,000m long-term re-volving credit facility with a pool of leading Italian and international banks. The significant five-year credit facility will further contribute to the improvement of the Group's financial structure by extending the average maturity of its financing, while retaining the flexibility that the in-strument offers. The credit facility replaces an analogous facility that was close to maturity, and the funds will be available for general corporate and working capital needs, including the refinancing of existing facilities.

The pool of banks that participated in the transaction included the bookrunners Banca IMI, BNP Paribas, Citigroup, Crédit Agricole, ING, Mediobanca and Unicredit. Mediobanca is acting as Doc-umentation and Facility Agent and BNP Paribas as the Issuing Bank in case of non-cash utilization. The banks were advised by Allen & Overy LLP.

Lead partner, Dr Wolfgang Kotzur commented: "The improved conditions and the lively inter-est of the banks in refinancing show that the banks continue to place their trust in the Prysmian Group even after their substantial expansion through last year's acquisition of General Cable. We are pleased to have advised our long-standing client Prysmian both on the financing of the acquisi-tion and on this important transaction."

The cross-border core deal team was led by partner, Dr Wolfgang Kotzur and consisted of partner, Nicolas Lasagna, senior associate, Maria Ilaria Griffo and business lawyer Isabel Ribeiro Mousinho.

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