"Legance and Dentons Assist in Groundbreaking €135 Million Project Financing for AMAP in Sicily"

Legance and Dentons assisted, respectively, the company AMAP and the pool of banks composed of Intesa Sanpaolo – IMI Corporate & Investment Banking Division (also acting as agent and sustainability coordinator), Banco BPM, Cassa Depositi e Prestiti (also acting as agent and co-sustainability coordinator), Banca Monte dei Paschi di Siena, and Mediocredito Centrale – Banca del Mezzogiorno, in the structuring and granting of financing up to 135 million euros, supported by a guarantee issued by SACE. The transaction, of significant importance, represents a "market first" as the first project financing operation to support an in-house manager of the integrated water service in the territory of the Sicily Region. The financing aims to support AMAP's investment plan as the manager of the integrated water service for the Optimal Territorial Area of Palermo, including the advancement of public contributions recognized to the company by various competent authorities. The Optimal Territorial Area of Palermo, served by AMAP, encompasses 47 municipalities, making the project highly relevant for the region. Legance assisted AMAP with a team led by partner Simone Ambrogi, from the Energy & Infrastructure department, supported by associate Adriana Garaffa. The due diligence activities were handled by counsel Lucio Di Cicco and managing associate Alberto Tedeschi, with managing associate Giuseppe Todaro addressing compliance aspects and partner Marco D’Agostini focusing on labor law matters. Dentons provided assistance to the pool of banks and SACE with a team led by partner Luigi Costa, head of the Project, Energy and Infrastructure business unit in Italy. The team included managing counsel Ginevra Biadico, junior associate Alice Bixio, and trainees Giulia Brevi, Benedetta Paccoia, and Elena Sartelli. Dentons managed the review of the due diligence on behalf of the banks, particularly regarding AMAP's entitlement to public contributions for the infrastructure works outlined in the investment plan, as well as the negotiation and finalization of financial documentation, including the inter-creditor agreement and the sharing of guarantees with the European Investment Bank, an existing financier of AMAP.

"Legance and Dentons Assist in Groundbreaking €135 Million Project Financing for AMAP in Sicily"

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