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Italy
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Calyon has been present in Italy for more than 30 years. The Bank offers comprehensive services, ranging from financing to providing close advisory services during mergers and acquisitions, not only to Italian companies, but also to the subsidiaries of large foreign groups.
In order to strengthen the proximity of these services, Calyon benefits from a sizeable partnership with the Banca Intesa Group, the leading Italian bank. |
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| Capital markets and investment banking
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Capital markets and investment banking
 | Capital Markets | [Capital markets and investment banking] |
Calyon Italy's Securitisation and Bond Issue businesses saw many successes in 2004 and 2005: - securitisation for Wind (May 2004),
- securitisation of Fiat auto receivables (May 2004),
- EUR 1 bn bond issue on behalf of Banca Lombarda (January 2005),
- EUR 1 bn bond issue on behalf of Banca Intesa (February 2005),
- EUR 750 M bond issue on behalf of Banca Italease (May 2005).
| Equity brokerage | [Capital markets and investment banking] |
Cheuvreux is a leading European broker thanks to the renowned quality and independence of its research, its original multi-local approach and its execution expertise.
Cheuvreux's equity research coverage provides one of the broadest offers available, as reflected by the company's steady climb in the rankings.
The Italian brokerage arm has a front office made up of 24 professionals specialized in research, advice to institutional clients, and execution of equities relative to the Italian market. Currently, Cheuvreux Italy regularly follows 91 Italian companies, which account for 90% of the local market capitalisation.
| Investment banking | [Capital markets and investment banking] |
In 2004, Calyon played the role of financial advisor, appointed by a consortium of private equity funds led by BS Private Equity and PM & Partners, for the sale, through an international and competitive auction, of the entire share capital of ECO S.p.A. (the largest European producer of components for the air conditioning and refrigeration industry) to Compass Partners European Equity Fund. The transaction was among the sizeable deal finalised by a private equity fund and the biggest secondary buy-out realised in 2004 in Italy.
In the same year, Calyon was appointed by the Italian Government as advisor for the sale of the 40% stake in Del Monte Pacific held by Cirio. Del Monte Pacific is the world leader in the pineapple production and it is one of the most preminent companies listed in the Singapore stock exchange.
Calyon was also involved as financial advisor in a number of other transactions, both in Italy and cross border.
ECM Primary and strategic equity derivatives complete the Investment Banking activity. Calyon was appointed co-lead in the Terna IPO and was awarded with several strategic equity derivative transactions from both corporate and financial institutions featuring:- equity options strategies,
- equity swap and securities lending structures.
The Italian Investment Banking Department is therefore pursuing at the same time a strong multi-product and multi-sector marketing policy (equity capital markets, equity derivatives and advisory services). In particular, Calyon Italy promotes the combined services of its investment banking and acquisition finance teams: the bank becomes an exclusive partner to its financial sponsors customers, acting at the same time as advisory bank and financing bank.
Financing
| Structured finance | [Financing] |
In the field of export finance, Calyon is one of the major banks in Italy for SACE (the Italian equivalent of the French Coface) credits. Calyon Italy also maintains a presence in the market for Real Estate financing.
In 2005, the Bank was particularly active on the project finance business line :- Calyon, MLA and Bookrunner of the EUR 229.5 M Florence Tramway, the first Italian project financing in the local transportation sector.
| Telecom Finance | [Financing] |
In Italy, Calyon has a strong presence in telecom financing market.
In 2005, the Bank participated in significant transactions:- Calyon, Lead Arranger of a EUR 12 bn jumbo facility on behalf of Telecom Italia,
- Calyon, Mandated Lead Arranger of the EUR 2.4 billion refinancing of Olimpia.
| Acquisition Finance | [Financing] |
Calyon took part in the largest transaction of the year 2004 with Galbani, for which we were appointed Mandated Lead Arranger by BC Partners for a EUR 800 million financing package.
More information on Calyon's expertise in Acquisition Finance.
| International Support to Middle Market Clients Network | [Financing] |
Located in Milan, Crédit Agricole Group Liaison Desk in Italy assists Crédit Agricole's mid-cap corporate customers in their international operations, by providing a thorough knowledge of the local environment as well as by securing access to a wide spectrum of banking services abroad.
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