In a landscape where defence investments are increasing sharply due to escalating geopolitical conflicts, navigating the regulatory framework governing restrictions on weapons-related investments is key for lenders and...more
6/6/2025
/ Compliance ,
Defense Sector ,
Due Diligence ,
Financial Institutions ,
Investment ,
Italy ,
Lenders ,
New Regulations ,
Penalties ,
Regulatory Requirements ,
Risk Management
Against a remarkably volatile macroeconomic backdrop, US and European high yield bond markets recorded conspicuous year-on-year declines in issuance during the first quarter of 2025....more
High yield bond issuance in the US and Europe has made strong gains as issuers return to the market to refinance at more attractive rates -
High yield bond markets in the US and Europe made strong gains through the first...more
As part of a series of recent FDI reviews, the Italian government has determined that the grant of a pledge over shares of Italian companies in strategic sectors triggers the filing requirement under the Italian FDI regime,...more
The Italian legislators and CONSOB enacted new measures, as part of a general attempt to modernize the market infrastructure.
The new rules relate to, inter alia, the following:
The issuance of unlisted debt...more
The Italian legislature enacted new measures , effective from March 27, 2024, to attract new investors to the Italian capital markets and rationalize corporate governance dynamics (the "Capital Markets Law")....more
European leveraged finance in 2023 was saddled with the negative effects of elevated interest rates. But as the market adjusts to the “new normal”, rate and price stability offer hope for a brighter 2024.
-Rising interest...more
1/30/2024
/ Acquisitions ,
Banking Sector ,
Buyouts ,
Debt ,
Debt Market ,
EU ,
Financial Institutions ,
Interest Rates ,
Investment ,
Leveraged Finance ,
Loans ,
Mergers ,
Private Equity ,
Refinancing
The attention of financial regulators on environmental, social and governance factors is significantly and rapidly increasing. A proper integration of ESG features in the business model of financial and non-financial entities...more
6/9/2023
/ Bank of Italy ,
Climate Change ,
Environmental Social & Governance (ESG) ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Regulatory Agencies ,
Italy ,
Non-Financial Firms ,
SFDR ,
Sustainable Finance
European PE dealmaking declined in 2022—down 38 per cent year-on-year, according to Mergermarket—as macro-economic uncertainty intensified, valuations became increasingly volatile, and financing tightened.
Under the...more
2/6/2023
/ Acquisitions ,
Borrowers ,
Buyouts ,
Capital Markets ,
Debt ,
EU ,
Investment ,
Investors ,
Mergers ,
Private Equity ,
UK
HEADLINES -
- M&A leveraged loan issuance in Western and Southern Europe is down 69 per cent year-on-year, while high yield is down 81 per cent
-Buyout loan and high yield bond issuance is down by 9 per cent and 52 per...more
The recent conflict in Ukraine is affecting the entire global economy and causing severe consequences for many Italian companies. To address the current scenario, the Italian legislators introduced:
(i) a specific first...more
On 12 January 2019, the Italian Government enacted Legislative Decree No. 14 (so called "business crisis and insolvency code (codice della crisi d’impresa e dell’insolvenza)", which entered into force on 15 July 2022 (the...more
11/3/2022
/ Ad-Hoc Mandates ,
Chamber of Commerce ,
Clawbacks ,
Creditors ,
Debt Restructuring ,
Enforcement Actions ,
Financial Distress ,
Insolvency ,
Italy ,
Joint Liability ,
Liquidation ,
Recapitalization ,
Recovery Plans ,
Sustainable Finance
Borsa Italiana has released a new regulation, effective October 3, 2022, that simplifies the Euronext listing admission process.
Consistent with the listing rules of EU peer securities exchanges, the issuer and the...more
Consob initiated a public consultation concerning important new IPO rules aimed at simplifying and shortening the prospectus approval process and to reduce listing costs, which would bring Italian practice closer in line with...more
After several delays, on November 4, 2021, the Italian Council of Ministers examined and finally approved the draft Annual Law for Competition ("Draft") pursuant to Article 47 of Law No. 99/2009.
The Draft reflects most...more