Pietro Bancalari
Biography
Overview
Pietro Bancalari is a dual-qualified lawyer (US and Italy) with several years of experience. His practice is based jointly in London and Milan.
Pietro regularly assists private equity firms, large public and private companies and investment banks in connection with a broad range of international capital markets transactions, including issuances of high yield and investment grade debt securities, US private placements, tender offers, redemptions, initial public offerings, rights issues, SPAC transactions and other public and private debt and equity offerings. He has also been involved on several complex cross-border corporate reorganizations, including in the context of the critically important response to Brexit by several primary financial institutions.
Harlan Fiske Stone Scholar
Experience
Debt Capital Markets
Rossini S.à r.l., an investment holding company controlled by CVC Capital Partners and controlling entity of Recordati S.p.A., in connection with the capped tender offer on its €1 billion 6.750% senior secured fixed rate notes due 2029 and €850 million senior secured floating rate notes due 2029 and concurrent conditional partial redemption on the same floating rate notes, for an aggregate maximum amount of €501 million.
Neopharmed Gentili S.p.A., a portfolio company of Ardian and NB Renaissance and a leading Italian primary care pharmaceutical company, in connection with the private placement of €100 million senior secured fixed rate notes due 2030. The issuance follows an original €750 million high yield bond issued in April 2024. The notes have been issued and sold pursuant to Regulation S under the US Securities Act, listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market.
doValue S.p.A. in connection with the offering of €300 million senior secured notes due 2030 as part of the refinancing of its outstanding indebtedness and the redemption of its existing €300.0 million 3.375% senior secured notes due 2026. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.
The initial purchasers in connection with the debut issuance of €360 million senior secured floating rate high yield notes due 2031 by CEME S.p.A., portfolio company of Investindustrial and global leader in the production of vibration pumps and solenoid valves. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.
International Game Technology PLC in connection with the issuance of its €500 million 4.250% senior secured notes due 2030. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.
Rossini S.à r.l., an investment holding company controlled by CVC Capital Partners and controlling entity of Recordati S.p.A., in connection with the issuance of €1 billion 6.750% senior secured fixed rate notes due 2029 and €850 million senior secured floating rate notes due 2029. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.
The initial purchasers in connection with a €275 million senior secured floating rate notes offering by Cedacri S.p.A., a leading provider of technology solutions for banks and a portfolio company of the ION Group. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.*
Permira in connection with the issuance of US$790 million 6.5% senior secured notes for the acquisition and combination of Kedrion and BPL, two multinational healthcare groups. The notes have been offered and sold pursuant to Rule 144A and Regulation S under the US Securities Act.*
Universal Music Group N.V., a world leader in music entertainment, in connection with the issuance of €750 million 4.000% senior notes. The notes have been offered and sold pursuant to Regulation S under the US Securities Act.*
Universal Music Group N.V. in connection with its inaugural dual-tranche issuance of €500 million 3.750% senior notes and €500 million 3.000% senior notes. The notes have been offered and sold pursuant to Regulation S under the US Securities Act.*
Equity Capital Markets
The underwriters in connection with the €6.5 billion initial public offering of Pirelli S.p.A., one of the leading tyre manufacturers in the world, representing the largest IPO in Italy in several years.*
The underwriters in connection with the €800 million share capital increase of BPER Banca S.p.A., representing the largest share capital increase of the year in Italy.*
The underwriters in connection with the €500 million IPO of GVS S.p.A., a global leader in the manufacturing of advanced filtration solutions, representing the second-largest European offering of the year.*
The underwriters in connection with the €230 million IPO of Newlat Food S.p.A., one of Italy's leading agri-food companies, representing the only successful IPO in Italy during the Covid-19 pandemic.*
The underwriters in connection with the €500 SPAC initial public offering of Space4 S.p.A. with concurrent listing of the shares and warrants on Euronext Milan, representing the largest SPAC offerings in Italy.*
The Toronto-listed ATS Automation Inc. in connection with the hostile takeover and delisting from Euronext Milan of the totality of the multiple voting shares and special shares of CFT S.p.A., a leader in food and beverage technology solutions.*
Nice Group S.p.A., a leader in automation solutions, in connection with the voluntary tender offer and delisting process of the ordinary shares of Nice S.p.A. from Euronext Milan, including the "sell-out" and "squeeze-out" procedure.*
The European Investment Bank in connection with the alternative financing and issuance of a series of warrants to Newron Pharmaceuticals S.p.A., an Italian company listed on the SIX Swiss Exchange.*
* Pietro worked on these matters prior to joining White & Case.
