Global law firm White & Case LLP has advised the Italian short-sea operator Grandi Navi Veloci S.p.A. on its €320 million refinancing.

The transaction included a €245 million senior secured term and revolving credit facility and a €75 million private placement.

The loan was granted by a pool of banks which included Mediobanca and UniCredit as global coordinators and joint bookrunners, and Banca IMI, Banca Popolare di Milano and Norddeutsche Landesbank Girozentrale as mandated lead arrangers. The private placement consisted of the issuance of junior bonds offered to institutional investors. Mediobanca and UniCredit acted as placement agents on the issuance.

The White & Case team in Milan which advised on the transactions was led by partner Iacopo Canino, local partner Nicholas Lasagna, associates Bianca Caruso and Pietro Magnaghi and lawyers Luca Bella and Alessandro Piga.