10 Dec 2025

BonelliErede Advises Banking Syndicate on Medium‑Long Term Financing to Cogesi

"BonelliErede advised a syndicate of lenders (BCC Banca Iccrea as agent, Banca Alpi Marittime, Banca d’Alba, Banca Cambiano 1884, UniCredit and ViViBanca) on a medium‑long term financing to Cogesi. Igpa | avvocati assisted Cogesi, while Studio Legale Siena and Fivers advised Cogesi’s consortium companies (ACDA, ALAC, Alpi Acque, ALSE, CALSO, Mondo Acqua, Infernotto Acqua and SISI)."

BonelliErede advised the pool of financing banks, Igpa | avvocati assisted Cogesi, and Studio Legale Siena together with Fivers assisted the consortium companies of Cogesi. The transaction comprised the subscription of a medium‑long term financing facility made available to Cogesi, a consortial company and the in‑house provider responsible for the unified integrated water service in the Ambito Territoriale Ottimale n. 4 “Cuneese”. The lending syndicate — composed of BCC Banca Iccrea (also acting as agent), Banca Alpi Marittime, Banca d’Alba, Banca Cambiano 1884, UniCredit and ViViBanca — provided the financial resources necessary, together with contributions from certain Cogesi consortium members, to enable Cogesi to pay its share of the indemnity due to the outgoing private operator for the portion of ATO4 corresponding to the Alba, Bra, Langa and Roero area. Notarial activities relating to the relevant financing documentation were carried out by notary Gaspare Panté of Milan. BonelliErede represented the pool of financing banks with a team composed by: partner Giorgio Frasca (team lead), senior associate Lucia Vittoria Lonoce, Andrea Ilacqua and Marco Iannone, handling legal due diligence and financing aspects. Igpa | avvocati represented Cogesi with a team composed by: Luca Geninatti Satè. Studio Legale Siena and Fivers represented the consortium companies ACDA, ALAC, Alpi Acque, ALSE, CALSO, Mondo Acqua, Infernotto Acqua and SISI with a team composed by: Fabio Antonio Siena, managing partner Alfredo Craca, partner Antonio Papi Rossi, and senior associates Nicola Ferrante and Gioia Stendardo. Notary Gaspare Panté (Milan) was involved in the notarisation of the financing documentation.
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