Watson Farley & Williams (“WFW”) advised illimity Bank S.p.A. (“illimity”) acting as lending, arranging and agent bank and SACE agent, on two loans granted to Kalypso Compagnia di Navigazione S.p.A. (“Kalypso”) to finance the acquisition of the container ship “Burgundy”. The first loan was secured under the “SupportItalia” guarantee issued by Italy’s ECA SACE S.p.A. pursuant to Decree-Law no. 50/2022 and the second by a guarantee granted by the European Investment Fund.
With the acquisition of the Burgundy, Kalypso increases its fleet to four vessels and furthers its strategic aim of modernising said fleet to consolidate its standing as a leading global logistics company. Kalypso is a newly established subsidiary of Rome headquartered Rif Line International S.p.A. (“RifLine”), part of the well-known international logistics group led by Dr Francesco Isola.
The WFW Italy Maritime team that advised illimity was led by Partner Michele Autuori, assisted by Senior Associate Antonella Barbarito and Associates Beatrice D’Amato and Noemi D’Alessio.
AD Capital Consulting and Studio Legale Mordiglia acted as Kalypso and RifLine’s financial and legal advisors respectively.
Banchero Costa acted as broker on the Burgundy’s sale and purchase, which also saw UniCredit S.p.A. provide Kalypso with a commercial credit line.
