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DEALS
Norton Rose Studio Legale has advised Intesa Sanpaolo, Italy’s largest banking group, and SACE, on a loan to Banco do Brasil. Intesa Sanpaolo will grant the bank a three-year loan for an overall amount of EURO;75 million, covered by a 70 per cent SACE guarantee. Banco do Brasil is Brazil’s leading bank and handles about 30 per cent of the trade between Italy; it has been operating in Italy for 34 years. Milan Banking Partner, Arturo Sferruzza commented: "This transaction forms part of SACE's objective to support of the internationalisation of the Italian banking system and, more generally, of the penetration of Made in Italy in world markets. It exemplifies the increasingly important role of export credit agencies in the credit crisis environment." The team was led by partner Arturo Sferruzza, assisted by associate Niminder Bhogal and trainee Claire Gater. Banco do Brasil was assisted by Simmons & Simmons (London office).
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