Europe - Italy
3

Capital markets: Debt

Dentons

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Dentons' Italy team covers standalone bond issuances, EMTN programmes, retail offers, purchase and exchange offers involving debt securities, commercial papers, structured products, and green, social and sustainable bonds. The group also advises on structured finance. The firm's DCM practice is headed by Piergiorgio Leofreddi. Gianpaolo Garofalo leads the structured finance group. Annalisa Feliciani brings expertise in Italian law-issued commercial papers, debt issuances and ESG-related topics. Senior associate Bianca Chiara Sinisi is another key contact.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • 'Piergiorgio Leofreddi has been always a safe pair of hands - very reliable and willing to help.’

  • ‘Gianpaolo Garofalo and his team provide the necessary legal advice and go beyond what would normally be expected.'

  • ‘Gianpaolo Garofalo takes the helm to drive complex transactions to the finishing line - works well under time pressure and always delivers the best results.'

  • ‘Gianpaolo Garofalo is a first port of call for complex, highly structured transactions and he is instrumental in ensuring their completion and success.'

  • 'Together with Bianca Chiara Sinisi, Gianpaolo Garofalo delivers impeccable legal support.'

Key clients

  • Mediobanca
  • BPER Banca
  • Deutsche Bank AG
  • Intesa Sanpaolo
  • Banco Santander
  • Goldman Sachs
  • Banca Akros
  • Banca Monte dei Paschi di Siena
  • Citigroup Global Markets Limited
  • Ferrovie dello Stato Italiane
  • Generali Insurance Asset Management SGR
  • Equita
  • U.S Bank Trustees Limited
  • UniCredit
  • Istituto per il Credito Sportivo (ICS)
  • Snam
  • RiverRock
  • Axiom Group
  • CFE (UK) Ltd
  • Banca Capasso

Work highlights

  • Assisted Ferrovie dello Stato Italiane with the update of its EMTN programme and the issuance of green bonds.
  • Assisted a pool of banks with the issuance of the Italian Ministry of Economy and Finance's second and third green bonds.
  • Assisted a pool of banks with the issuance of over €18bn of a four-year BTP Valore, an Italian government bond dedicated exclusively to retail savers.

Lawyers

Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Piergiorgio Leofreddi
Dentons
Piergiorgio Leofreddi is a partner in Dentons’ Milan office and he is Head of Debt Capital Markets Group in Italy. Piergiorgio has extensive experience in assisting Italian and international banks and companies in relation to debt capital markets and structured finance transactions, including Euro Medium Term Note issuance programmes (and transactions under the abovementioned programmes), stand-alone transactions, retail offers, purchase and exchange offers related to debt securities and related regulations. He also has significant regulatory experience and represents clients in their relations with regulators and stock exchanges, including Consob, Italian Stock Exchange, Luxembourg Stock Exchange and Irish Stock Exchange.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Annalisa Feliciani
Dentons
Annalisa Feliciani is a debt capital markets partner in Dentons’ Rome office and a member of the global Banking and Finance practice. She provides legal assistance to major Italian and international banks, financial institutions and companies in connection with the structuring, offering and listing of a wide range of financial instruments for both retail and institutional investors.  These include: fixed income products (Eurobonds and domestic bonds); structured notes, warrants and certificates; credit and fund-linked securities; mini-bonds and commercial papers (including STEP compliant); and ESG products (social, sustainability and green bonds). She assists in the establishment and update of issuance programs and stand-alone issuances (public deals and private placements); retail public offers in Italy; debt capital markets and liability management transactions. Annalisa is experienced in the structuring of transactions and related regulatory issues. She provides high level transactional and regulatory advice vis-à-vis financial regulators (Consob, Bank of Italy, CSSF, Central Bank of Ireland), the main financial market lobbies, as well as Stock Exchanges and MTFs in Italy and in other European countries (e.g. Luxembourg and Ireland).

Practice head

The lawyer(s) leading their teams.

Piergiorgio Leofreddi, Gianpaolo Garofalo

Other key lawyers

Annalisa Feliciani, Bianca Chiara Sinisi

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