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Sisal Pay S.p.A's High‑Yield Senior Secured Floating Rate Notes Offering

Cravath represented the initial purchasers, led by UBS Investment Bank and Banca IMI, in connection with the €530 million 144A/Reg. S high‑yield senior secured floating rate notes offering of Sisal Pay S.p.A. (to be renamed SisalPay Group S.p.A.), a leading player in Italian proximity payment products and services. This offering was issued as part of the financing for the proposed creation of the SisalPay Group S.p.A., a corporate partnership in the retail and digital market of payment services between Sisal and Intesa Sanpaolo. The transaction closed on December 17, 2019.

The Cravath team included partner Philip J. Boeckman, practice area attorney Roberto Bruno, European counsel Margaret R. M. Rallings and associates Marianne Madden, Jarrett V. Burks, Alexander Gerten and Hyun Soo Suh on securities matters, and associate Richard Bohm on tax matters. Duncan H. Hardell also worked on tax matters.