White & Case advises Apeiron and Apollo Funds on sale and refinancing with Illimity Bank of €1.8 billion construction claims portfolio

Global law firm White & Case LLP has advised Apeiron Management S.p.A. (Apeiron) and funds managed by affiliates of Apollo Global Management (Apollo Funds) on a transaction with Illimity Bank S.p.A. consisting of the sale and subsequent refinancing of a portfolio of construction claims (riserve tecniche d'appalto) owned by the Apollo Funds with a nominal value of approximately €1.8 billion.

This is one of the first deals in the Italian market involving the construction claims (riserve tecniche d'appalto) asset class. Mediobanca acted as sole financial advisor to Apeiron and the Apollo Funds.

The White & Case team in Milan that advised on the transaction included partners Gianluca Fanti and Giuseppe Barra Caracciolo, local partner Francesco Scebba and associate Marco Cattani.

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