Milbank Advises Initial Purchasers in Connection with Fedrigoni’s €665M High Yield Bond Offering

Milbank LLP represented the initial purchasers and lenders in connection with the offering by Fiber Bidco S.p.A.’s (“Fiber Bidco”) of €665 million senior secured floating rate notes due 2030 and the upsize of its existing revolving credit facility. The proceeds from the offering were used to refinance Fiber Bidco’s €735 million senior secured floating rate notes due 2027.

The initial purchasers included Goldman Sachs Bank Europe SE, Nomura Financial Products Europe GmbH, UniCredit Bank GmbH, BNP Paribas, BPER Banca S.p.A., Intesa Sanpaolo S.p.A., Mizuho Securities Europe GmbH, Banca Monte dei Paschi di Siena S.p.A., Morgan Stanley & Co. International plc and Banco Santander, S.A..

Fedrigoni is a leading global player in wine labels, specialty papers for luxury packaging, drawing paper and self-adhesive materials.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Rebecca Marques and Laura Bonamis with associates Stefanos Serfas, James Szauer, Alex Taylor, legal assistant Matteo Bonacina and trainee Freddie Fisk. The team had assistance from Tax partner Andrew Walker and associate Elaine Lee.