Retelit in €340 Million Financing

Cleary Gottlieb represented Retelit and investment fund Asterion Industrial Partners in Retelit’s financing for a total amount of €340 million, aimed at refinancing existing debt and supporting the group’s upcoming planned investments.

The transaction was structured partly through the provision of medium to long-term multitranche bank financing granted by a pool of banks composed of ING, Intesa Sanpaolo, NIBC, MPS, and Banco BPM, and partly through the issuance of a bond fully subscribed by the CDPQ fund. Intesa Sanpaolo and ING also jointly acted as global coordinator, and Intesa Sanpaolo as security agent.

Retelit is Italy’s largest player in telecommunications for the B2B market, wholly owned by Asterion Industrial Partners, with its own widespread fiber-optic network in Italy and abroad and a network of data centers throughout the country.