A&O Shearman and Legance advise on Mundys liability management for two bond series

A&O Shearman and Legance advised the parties to Mundys' liability management exercise: Legance acted for Mundys, while A&O Shearman assisted the dealer managers Goldman Sachs International, SMBC Bank EU AG and Société Générale. Mundys conducted a liability management operation directed at holders of two series of notes issued by the company (formerly Atlantia S.p.A.). The securities comprised 1,000,000,000 1.875% Notes due 13 July 2027 (ISIN: XS1645722262) and 1,000,000,000 1.875% Notes due 12 February 2028 (ISIN: XS2301390089). The transaction consisted of two separate cash tender offers for the purchase of notes for cash, for a combined maximum aggregate nominal amount of up to 500 million, executed on the terms set out in the tender offer memorandum dated 28 October 2025. The offers formed part of Mundys' proactive management of its liabilities. Settlement of the accepted tenders took place on 7 November 2025. A&O Shearman represented the dealer managers Goldman Sachs International, SMBC Bank EU AG and Société GE9nE9rale with a team composed by: Cristiano Tommasi (partner), Sarah Capella (counsel), Marco Mazzurco (associate) and Antonio Iuliano (trainee). Legance represented Mundys with a team composed by: Alberto Giampieri (senior partner), Antonio Siciliano (partner), Cosimo Spagnolo (senior associate) and NiccolF2 Milesi (associate).

A&O Shearman and Legance advise on Mundys liability management for two bond series

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