Osborne Clarke advised Cassa Depositi e Prestiti S.p.A. in its grant of financing of Euro 35 million in favour of Raffineria di Milazzo S.c.p.A., accompanied by a first demand guarantee (so-called Garanzia Italia) issued by SACE S.p.A. pursuant to Law Decree no. 23/2020 (Decreto Liquidità).
Raffineria di Milazzo S.c.p.A. is a company operating in the Italian and international refining sector for the production of fuels and raw materials for petrochemicals and is one of the most complex refineries in Europe, able to receive a wide range of raw materials and to process approximately 10 million tons per year.
The financing granted by Cassa Depositi e Prestiti S.p.A. is destined for new investments in research, development and innovation, environmental projects, improving energy efficiency, sustainable development and a green economy as provided in the company’s business plan.
Osborne Clarke’s team was led by partner Andrea Pinto, with associate Laura Cipollone and trainee Sofia Stefani. The legal aspects of the transaction were managed by Cassa Depositi e Prestiti S.p.A. with an internal team composed of Antonio Tamburrano, Business & financing legal manager, Maurizio Iaciofano, Enterprise, infrastructure and financial institutions legal manager, and Andrea D’Agostino.