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A&O Shearman advises on the tender offer for bonds and bond issuance by Campari

A&O Shearman advises on the tender offer for bonds and bond issuance by Campari
Published Date
Jun 17 2026
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Image of Cristiano Tommasi
Cristiano TommasiPartner, Rome
Image of Sarah Capella
Sarah CapellaCounsel, Rome
Image of Paolo Martellone
Paolo MartelloneAssociate, Rome
Image of Jonathan Heeringa
Jonathan HeeringaPartner, Amsterdam
Image of Victoria Schepers
Victoria SchepersTransaction Executive, Amsterdam

Davide Campari-Milano N.V. (the Company) has completed the invitation to holders of its EUR550 million 1.250% notes due October 6, 2027 to tender for purchase by the Company for cash, in whole or in part, on the terms and subject to the conditions set out in the tender offer memorandum dated June 9, 2026.

Concurrently, the Company completed the placement, with institutional investors, of a senior unsecured fixed-rate bond for a nominal value of EUR600m with a seven-year maturity. The bond constitutes the first issuance under the Company's Euro Medium Term Notes (EMTN) program. The bond pays a fixed annual coupon of 4.25% and has been admitted to listing on the regulated market of the Luxembourg Stock Exchange, as well as admitted to trading on the Mercato Telematico delle Obbligazioni (the regulated market of Borsa Italiana).

In relation to the two transactions, A&O Shearman advised the pool of financial institutions acting as dealer managers on the tender offer—BNP Paribas and Deutsche Bank—and as joint lead managers in relation to the new issuance—BNP Paribas, BofA Securities, Deutsche Bank, Intesa Sanpaolo (IMI CIB Division) and UniCredit.

The A&O Shearman team was led by partner Cristiano Tommasi with counsel Sarah Capella, supported by associate Paolo Martellone, together with a team from the Amsterdam office consisting of partner Jonathan Heeringa and Victoria Schepers.

“We are pleased to have advised the pool of financial institutions on this transaction, which successfully combined the management of existing liabilities with Campari's debut on the EMTN market. The complexity of the deal, spanning multiple workstreams and jurisdictions, required rigorous coordination and deep expertise in the international debt capital markets. The outcome achieved confirms our team's ability to deliver seamless, high-quality advice on transactions of this kind.”

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