Michael Immordino

Equity Capital Markets

Nexi's €584 million block trade, 2022
Michael led the team that advised Intesa Sanpaolo S.p.A. in connection with the approximately €584 million placement of 5.1% of the share capital in Nexi S.p.A. through an accelerated bookbuild offering to qualified investors.

Banca Monte dei Paschi di Siena's €2.5 billion rights issue, 2022
Michael led the team that advised Banca Monte dei Paschi di Siena S.p.A. in connection with the US law aspects of its €2.5 billion rights issue.

Technoprobe's €713 million IPO, 2022
Michael led the team that advised Mediobanca and Intesa Sanpaolo, as joint global coordinators and bookrunners, in connection with the Regulation S €713 million initial public offering of 20.8% of Technoprobe S.p.A.'s ordinary shares on Euronext Growth Milan.

MotorK's €75 million IPO, 2021
Michael led the team that advised MotorK Plc in connection with its Rule 144A and Regulation S €75 million initial public offering on Euronext Amsterdam of 28.7% of the company's share capital.

Intercos's €350 million IPO, 2021
Michael led the team that advised Intercos S.p.A. in connection with its Rule 144A and Regulation S €350 million initial public offering on Euronext Milan of 26.5% of the company's share capital.

Autogrill's €600 million rights issue, 2021
Michael led the team that advised Autogrill S.p.A. in connection with its €600 million rights issue.

SECO's €160 million IPO, 2021
Michael led the team that advised Goldman Sachs International and Mediobanca - Banca di Credito Finanziario S.p.A., as joint global coordinators and bookrunners, and Mediobanca - Banca di Credito Finanziario S.p.A., as sponsor, in connection with the €160 million initial public offering of approximately 40.45% of SECO S.p.A. on the STAR segment of the Milan Stock Exchange.

Moncler's €400 million block trade, 2021
Michael led the team that advised Ruffini Partecipazione S.r.l. in connection with the approximately €400 million placement of 3,2% of Moncler S.p.A.'s share capital through an accelerated bookbuild offering to institutional investors.

GVS's €570 million IPO, 2021
Michael led the team that advised GVS S.p.A. in connection with its Rule 144A and Regulation S €570 million initial public offering on the Milan Stock Exchange of 40% of the company's share capital.

UniCredit's €13 billion rights issue, 2017
Michael advised the underwriters in connection with UniCredit €13 billion rights issue. This transaction represents the largest rights issue in Italian history.

Debt Capital Markets / High Yields

Enel Group's US$4 billion yankee bond, 2022
Michael led the team that advised Enel Group in connection with a US$4 billion yankee bonds’ issuance. The issuance consists of (i) US$1 billion 7.100% notes due 2027, issued by Enel Finance America LLC and (ii) US$750 million 6.800% notes due 2025, (iii) US$1.250 billion 7.500% notes due 2032 and (iv) US$1 billion 7.750% notes due 2052, all issued by Enel Finance International NV, offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.

Global Infrastructure Partners' €450 million investment in Superstrada Pedemontana Veneta, 2022
Michael led the team that advised Global Infrastructure Partners in connection with a €450 million investment in secured notes of Superstrada Pedemontana Veneta S.p.A.

Fabbrica Italiana Sintetici's €350 million sustainability-linked high yield, 2022
Michael led the team that advised the joint global coordinators, physical bookrunners and bookrunners, in connection with the debut €350 million sustainability-linked 5.625% senior secured notes due 2027 issuance by F.I.S. - Fabbrica Italiana Sintetici S.p.A. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act and listed on the Official List of the Luxembourg Stock Exchange.

Autostrade per l’Italia's €1 billion issuance, 2022
Michael led the team that advised Autostrade per l’Italia S.p.A. in connection with its €1 billion bonds' issuance under its €7 billion EMTN Programme. The issuance consists of (i) €500 million 1.625% fixed rate notes due 2028 and (ii) €500 million 2.250% fixed rate notes due 2032. The notes have been offered and sold pursuant to Regulation S under the US Securities Act and listed on Euronext Dublin's regulated market.

Intesa Sanpaolo's US$2 billion yankee bond, 2022
Michael led the team that advised Intesa Sanpaolo S.p.A. in connection with its a US$2 billion yankee bonds' issuance under its recently updated US$50 billion MTN Programme. The issuance consists of (i) US$750 million 7.000% unsubordinated preferred notes due 2025 and (ii) US$1.25 billion 8.248% fixed rate resettable unsubordinated non-preferred notes due 2033, offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.

Cedacri's €650 million high yield, 2021
Michael led the team that advised J.P. Morgan AG, as global coordinator and joint bookrunner, and Goldman Sachs International and UniCredit Bank AG, as joint bookrunners, in connection with the €650 million high yield senior secured floating rate notes due 2028 issuance by Cedacri Mergeco S.p.A. to finance its acquisition of Cedacri S.p.A. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act and listed on the Irish Stock Exchange.

IMA's €1,280 billion high yield, 2020
Michael led the team that advised Sofima Holding S.p.A., a newly established company controlling IMA S.p.A., in connection with a €1,280 million high yield senior secured notes' issuance, issued in two tranches, in the context of the mandatory tender offer on all IMA S.p.A.'s  outstanding shares. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act and listed on the Luxembourg Stock Exchange.

Società di Progetto Brebemi's €1.679 billion project bond financing, 2019
Michael led the team that advised Società di Progetto Brebemi S.p.A. in connection with its €1.679 billion project bond financing. The transaction consists in a four tranched €1.679 bond issuance and approximately €307 million in credit facilities. The tranches of notes have been offered and sold pursuant to Regulation S and Rule 144A under the US Securities Act and listed on the Official List of Euronext Dublin.

CVC Capital Partners' €1.3 billion high yield, 2018
Michael led the team that advised CVC Capital Partners in connection with a €1.3 billion high yield bond’s issuance related to the proposed acquisition of FIMEI S.p.A., which owns approximately 51.8% of Recordati S.p.A.’s outstanding share capital. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act and listed on the Luxembourg Stock Exchange.

Pedemontana's €1.221 billion project bond, 2017
Michael led the team that advised JP Morgan, as global coordinator, together with Banca IMI, Santander, Banca Akros and Kommunalkredit, in connection with a project bond financing for the construction of the Superstrada Pedemontana Veneta toll road. The issuance consists of (i) €1.221 billion variable rate senior secured amortizing notes and (ii) €350 million step-up subordinated secured notes. The notes have been offered and sold pursuant to Regulation S and Rule 144A under the US Securities Act and listed on the regulated market of the Irish Stock Exchange.
 

M&A and Private Equity

BC Partners and Bain Capital's €3 billion acquisition of Fedrigoni, 2022
Michael led the team that advised BC Partners in connection with its €3 billion acquisition, together with Bain Capital, of Fedrigoni S.p.A., an Italy-based world leader in the production of value-added papers for luxury packaging and other creative solutions.

Esselunga's €435 million acquisition of an interest in La Villata, 2022
Michael led the team that advised Esselunga Group in connection with its €435 million acquisition from UniCredit of 32.5 percent of the share capital of La Villata S.p.A. Immobiliare di Investimento e Sviluppo, the real estate holding company of Esselunga Group which owns more than 80 buildings used by Esselunga as stores of GDO. Through this acquisition Esselunga Group acquires full control of La Villata S.p.A.

Valeas' sale, 2022
Michael led the team that advised the seller in connection with the sale of the entire share capital in Valeas S.p.A., a Milan based pharmaceutical company active in the Italian market.

BC Partners's €2.1 billion acquisition of SOFIMA and subsequent €946 million MTO on IMA's shares, 2020-21
Michael led the team that advised BC Partners in connection its almost €2.1 billion acquisition of an up to approximately 45 percent stake in SOFIMA, the holding company that controls IMA S.p.A. and on the subsequent €946 million mandatory tender offer on all IMA S.p.A.'s outstanding shares.

Takeda's divestments, 2019-20
Michael led the team that advised Takeda Pharmaceutical Company Limited in connection with its divestments of select OTC and prescription pharmaceutical products in multiple transactions, including (i) the US$322 million divestment to Hasten Biopharmaceutic Co. Ltd. in China; (ii) the US$562 million divestment to Cheplapharm in Europe and Canada; (iii) the US$278 million divestment to Celltrion in Asia Pacific; (iv) the US$670 million divestment to Orifarm in Europe; (v) the US$825 million divestment to Hypera Pharma in Brazil, Mexico and certain other Latin American countries; (vi) the US$660 million divestment to STADA in Russia, Georgia, and a number of countries from within the CIS; and (vi) the US$200 million divestment to Acino in a number of EMEA countries.

De'Longhi's US$420 million acquisition of Capital Brands Holdings, 2020
Michael led the team that advised De'Longhi Group in connection with its US$420 million acquisition of Capital Brands Holdings, LLC, the holding company of the US group Capital Brands active in the personal blender segment with the Nutribullet and Magic Bullet brands.

Esselunga majority shareholders' €1.8 billion purchase of Esselunga stake, 2020
Michael led the team that advised the controlling shareholders of the leading Italian food retailer Esselunga S.p.A. in connection with its €1.83 billion acquisition from its minority shareholders of a 30 percent of the share capital of Esselunga S.p.A.

CVC Capital Partners' US$3.5 billion acquisition of Recordati, 2018
Michael led the team that advised an investment consortium led by CVC Capital Partners in connection with its approximately €3 billion (US$3.5 billion) acquisition from the Recordati family of the holding company that owns a 51.8 percent stake in the Italian pharmaceutical group Recordati.