International law firm Simmons & Simmons has advised A2A S.p.A, a leading Italian multi-utility company, on establishing its Euro Medium-Term Note (EMTN) programme approved by CONSOB, the Italian securities regulator.
The programme is the first to have a base prospectus approved by CONSOB, while Borsa Italiana has issued a declaration of admissibility for listing the notes under its regulated market for bonds, MOT (Mercato Telematico delle Obbligazioni).
The new EMTN Programme is in line with international practices, with the notes’ terms and conditions governed by English law, and centralised on Euroclear and Clearstream.
This first-of-its-kind transaction is part of the broader initiative promoted by CONSOB and Borsa Italiana aimed at attracting issuers to the Italian market, and represents the result of a project which saw the Simmons team involved in discussions with CONSOB and the Borsa Italiana.
The Simmons team was led by partner Paola Leocani with support from managing associate Baldassarre Battista and supervising associate Ilaria Barone. The tax aspects of the transaction were led by partner Marco Palanca and supervising associate Luca Bocchetti.
