Global law firm White & Case LLP has advised BNP Paribas, Italian Branch, and a group of lenders on a €300 million term loan granted to ITT Italia S.r.l. and guaranteed by its parent company ITT Inc.
The financing is intended to cover a portion of the acquisition price of Svanehøj Group A/S and support the ongoing activities of ITT group. The group of lenders included a pool of banks, with BNP Paribas, Italian Branch, acting as global coordinator, sole underwriter, mandated lead arranger, bookrunner, agent and original lender.
ITT Italia S.r.l. is a subsidiary of ITT Inc. which is listed on the New York Stock Exchange. ITT Inc. is headquartered in Connecticut in the United States and operates in over 35 countries, manufacturing highly engineered components and customized technological solutions for the transportation, including aerospace, rail, and automotive, industrial, infrastructure and energy sectors.
Headquartered in Denmark, Svanehøj Group A/S is a supplier of pumps and related aftermarket services in the marine sector.
The White & Case team which advised on the transaction included partners Iacopo Canino (Milan), David Dreier (New York) and Shane McDonald (London), local partner Bianca Caruso (Milan), counsel Heidi Schmid (New York) and associates Beatrice Bertuzzi (Milan), Otto Nuñez-Montelongo (Washington, DC) and Grayson Weeks (New York).
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