DLA Piper has advised BNP Paribas, Commerzbank and SACE in a €55,200,000 medium-term, multi-obligor, financing for the major Italian contractor, Tenova S.p.A.. One of the two credit facilities made available under the financing, is partially covered by an internationalisation guarantee issued by SACE, the Italian Export Credit Agency.

The purpose of the credit facilities is the financing of part of the costs of the acquisition by Tenova S.p.A. of the German company Metall Technologie Holding (MTH) and its five subsidiaries. The MTH Group is a leading manufacturer of industrial furnaces for aerospace and mechanical car components industries. DLA Piper acted with a multi-jurisdictional team of banking and finance professionals advising from 6 offices of the Firm (Italy, Germany, the Netherlands, Brazil, South Africa and Mexico) and with the involvement of the Chilean law firm Morales & Besa.

Martin Pugsley, banking Partner based in the Milan office, co-ordinated the advice from the offices and firms involved and the drafting and negotiation of the finance documents, whilst Mario D'Ovidio, Partner in charge of the Banking practice in Italy, advised on SACE regulatory aspects and Italian law matters. The other members of the team were Gaetano Rombolà and Michele Parlangeli (Milan Office), Roberto Barros and Fabiana Pennacchi Marcondes (Campos Mello Advogados - Brazil); Mario Lindner (Cologne Office); Carlos Valencia and Mario Rea (Mexico City Office); Gerard Kneppers and Bobby Steiner (Amsterdam Office); Deon Wilken and Muhammed Ahmed Bobat (Cliffe Dekker Hofmeyr - South Africa). The Chilean law firm Morales & Besa Abogados, with Pedro García and Catalina Gonzalez, advised on Chilean law matters.

http://www.dlapiper.com/dla-piper-advises-bnp-paribas-commerzbank-and-s…