"Inwit Issues First Sustainability-Linked Bond Worth €850 Million"

In the recent transaction involving Infrastrutture Wireless Italiane (Inwit), the law firms Linklaters and A&O Shearman played significant roles. Linklaters assisted Inwit, while A&O Shearman provided support to the joint lead manager financial institutions, which included Banca Akros, BBVA, BNP PARIBAS, BofA Securities, Crédit Agricole CIB, IMI – Intesa Sanpaolo, Mediobanca – Banca di Credito Finanziario, Morgan Stanley, SMBC, and UniCredit Bank GmbH. In this transaction, Inwit successfully issued its first sustainability-linked bond amounting to €850 million with a maturity of 7 years, set to mature on October 13, 2032. The bond carries a fixed annual coupon of 3.625% and is documented under the company's Euro Medium Term Notes program. It has been listed on the regulated market of the Luxembourg Stock Exchange and the Italian Stock Exchange. Concurrently, on October 6, 2025, Inwit announced a cash tender offer for holders of the “€1,000,000,000 1.875 per cent. Notes” maturing on July 8, 2026, with the offer period closing on October 10, 2025. The A&O Shearman team was led by partners Cristiano Tommasi and Alessandra Pala, with support from counsel Sarah Capella, associate Marco Mazzurco, and trainee Lisa Avitabile. Counsel Elia Ferdinando Clarizia handled the tax aspects of the transaction. The Linklaters team was coordinated by partner Ugo Orsini and counsel Linda Taylor, assisted by managing associates Laura Le Masurier and Matteo Pozzi, and associate Leonardo Agostini.

"Inwit Issues First Sustainability-Linked Bond Worth €850 Million"

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