The partnership between Intesa Sanpaolo and Prelios regarding UtP credits was named Deal of the Year at the 2020 Legalcommunity Finance Awards on May 5. Held for the first time in a web edition with over 500 accredited spectators, the evening event presented by Nicola Di Molfetta and Laura Morelli saw the presentation of awards for excellence in the field of banking & finance law.
The partnership between Intesa Sanpaolo and Prelios was presented with the Award because “with a total value of about 10 billion euro, it was Italy’s first operation on a significant scale in the field of Unlikely to Pay credits”. The law offices involved in the deal were Chiomenti, Deloitte Legal, Linklaters, Orrick, and RCCD Studio Legale. The advisors were: Bain & Company Italy, Banca IMI, Deloitte, Houlihan Lokey, J.P. Morgan, McKinsey & Company, Mediobanca, and Rothschild & Co.