White & Case LLP has advised BNP Paribas, as arranger, and the other dealers, on the update of Snam S.p.A.'s €10 billion Medium Term Note Programme and on the issuances, under the same Programme, of €1.25 billion fixed rate Notes due 2026, and €500 million fixed rate Notes due 2020. Both issuances have been listed on the Luxembourg Stock Exchange and were sold to institutional investors. The proceeds of the new issuances will be entirely or partially used by Snam to repurchase existing Notes acquired by BNP Paribas as a result of the tender offer launched by Snam on 10 October 2016.

The White & Case team which advised on the transaction was led by local partner Paul Alexander (Milan) and partners Ferigo Foscari (Milan), Michael Immordino (London & Milan) and Francis Fitzherbert-Brockholes (London) and together with associates Louise Ruggiero and Davide Diverio (all Milan).