12 December 2024 - The law firm CMS acted as transaction deal counsel in the structuring, drafting and negotiating the documentation relating to a bridge loan in the form of debt instruments issued pursuant to Article 2483 of the Italian Civil Code for the development, construction, completion and operation, by a project company of the Austrian group Biogest, of a 510 Sm3/h bio-methane production plant located in the municipality of Collarmele, province of L'Aquila, Italy.
Such highly complex cross-border transaction is an example of alternative lending and involved CIC Transition Infra Debt Fund, a French Fund managed by CIC Private Debt, as underwriter of the debt instruments issued by the Italian project company.
CIC Transition Infra Debt Fund 2 is dedicated to Energy Transition. All the investments are in the Euro Zone and biogas is a strategic sector of intervention. CIC Private Debt is French management company with 20 years of experience in direct lending with € 5 bn of assets under management.
CMS advised Biometano Energy S.r.l. in the issuance process and CIC Transition Infra Debt Fund in the due diligence activity and in the negotiation and drafting of the documentation and agreements related to the bridge loan on a project basis, with a broad team coordinated by partner Paolo Bonolis, head of the firm's Banking&Finance department, together with counsels Alessandro Rendina and Maria Giovanna Pisani, who took care of all financial aspects including dematerialization of the financial instrumentsas well as of all preliminary and post-closing activities. Partner Matteo Ciminelli advised on energy and regulatory matters, while the real estate and commercial contracts aspects were handled by partner Marco Casasole, assisted by associate Luca Cristini. The tax matters of the transaction were dealt with by partner Federico Raffaelli jointly with associate Saverio Brocchi.
The Trust & Agency Services (TAS) Team at Deutsche Bank Italy, led by Ersilia Di Marco, supported the issuance as Agent Bank, in coordination with TAS London.
