A&O Shearman advises financial institutions on Webuild's EUR450 million bond

In the transaction, A&O Shearman advised the financial institutions acting as joint lead managers and co-managers—BNP Paribas, BofA Securities Europe, Goldman Sachs International, HSBC, IMI - Intesa Sanpaolo, J.P. Morgan, Natixis, UniCredit Bank GmbH, BPER Banca, and Crédit Agricole Corporate and Investment Bank.

The net proceeds were used for the repayment of the existing indebtedness of the company, also through the purchase by the company of any and all of the notes denominated “EUR750m 5.875%. Notes due 15 December 2025” and some of the notes denominated “EUR400m 3.875%. Sustainability-linked Notes 28 July 2026”.

The notes issuance allows Webuild to accelerate the rescheduling of the group's debt maturities, lengthening its average life, and to manage ahead of time the maturities on corporate debt scheduled between 2025 and 2026.

The initiative attracted strong interest from the national and international financial community, with orders covering over two times the book, confirming the market’s confidence in the solidity and prospects of the Webuild group.

The A&O Shearman team in the transaction was led by partner Cristiano Tommasi with counsel Sarah Capella, supported by associate Paolo Martellone and trainees Lisa Avitabile and Oliver Bradgate. Counsel Elia Ferdinando Clarizia provided assistance in relation to tax aspects.