December 2017

Amend & extend of current debt exposure

Castello SGR

Financial Institutions
Debt advisory
December 2017

UNO Fondo Sviluppo (Fondo UNO) is an Italian real estate fund established in December 2007 and managed by Castello SGR with a gross asset value of approximately €80 million and a debt exposure of approximately €50 million as of June 30, 2017.

Castello SGR, established in July 2007, is a leading asset management company engaged in the design and execution of real estate investment strategies with a consolidated experience in both national and international real estate and financial markets. Castello SGR has over €2 billion in assets under management and manages 28 real estate funds.

Fondo UNO and Castello SGR have renegotiated the main terms and conditions of the secured debt exposure of Fondo UNO toward a pool of creditors, composed of Intesa Sanpaolo, Banco BPM, and Yanez SPV (a special purpose vehicle that manages a set of UniCredit receivables through a servicing company named Aurora REcovery Capital), and achieved, among other things, a two-year extension of the maturity, a reduction of the interest rate, and an amendment of the reimbursement mechanism.

Leonardo & Co., in association with Houlihan Lokey, served as the exclusive financial advisor to Castello SGR and Fondo UNO, assisting in negotiating the main terms and conditions of the financing agreement with its creditors.