News from our Members and Partners

10 May 2018

WFW advises BPM on VSL refinancings

Watson Farley & Williams (“WFW“) has advised BPM S.p.A. (Gruppo Banco BPM – “BPM”) on two loan facilities to finance the reorganisation of Eco Shipping and Serenissima, which is owned by Venice Shipping and Logistics SpA (“VSL”).

VSL intends to use the funds raised via the loans to improve the performance of its Giulia I and R Serena R bulk carriers, whose technical management is overseen by the Ishima d’Amico Group, with greater financial flexibility thanks to improved credit lines.

Founded in 2009, Milan-based VSL is an Italian company specialising in investing in shipping and shipping related activities, as well acting as in financial advisor to the maritime sector.

BPM is Italy’s third largest retail and corporate banking conglomerate, formed in January 2017 through the merger of Banco Popolare and Banca Popolare di Milano.

The WFW Italy Maritime team advising BPM was led by Partner Furio Samela, assisted by Senior Associate Michele Autuori, and Associates Emanuele Caretti and Antonella Barbarito. The transaction was coordinated by BPM’s Corporate Division, directed by Luca Manzoni with the support of Massimiliano Milani.

Furio commented:

“This is an extremely important transaction, especially in light of the fact that the original syndicate of international lenders was replaced by a leading domestic bank, which demonstrates the increasing interest and attention in strategic industries such as shipping of the key financial institutions in Italy”.


About Watson Farley & Williams

Watson Farley & Williams is an international law firm with offices in Athens, Bangkok, Dubai, Frankfurt, Hamburg, Hong Kong, London, Madrid, Milan, Munich, New York, Paris, Rome and Singapore. The firm currently has 500+ lawyers and over 900 staff. Watson Farley & Williams is a leading international law firm providing services of high quality and value to clients throughout a range of industry sectors, with particular focus on: Energy & Infrastructure, Maritime, Natural Resources, Real Estate and Transport. Lawyers from our international offices work as integrated teams to provide practical, commercially focused legal services. Our locations allow us sufficient geographical spread to be competitive in the global market and to provide consistently high quality legal services to our clients. w: