Latham & Watkins Advises on Debt Restructuring of Focus Investments

Latham & Watkins has advised MPS, Banco BPM, and AMCO as financial creditors on the debt restructuring of Focus Investments S.p.A. The agreement provides for the restructuring of the company’s financial debt, amounting to approximately €152 million, through an initial cash release of €69 million, and the repayment of the residual exposure through the use of the proceeds from the enhancement of the company's investment portfolio.

The transaction aims to strengthen Focus Investment’s capital structure through the conversion into capital of receivables for €34.2 million by creditor Borromini SVP, who will become the new sole shareholder of the company, as well as through the conversion into equity financial instruments by AMCO of receivables for €3 million and the removal of part of the residual debt, for an amount of €14.9 million by MPS and Banco BPM.

The Latham team was led from Milan by finance counsel Mauro Saccani.