January 29, 2021

Milbank Advises on Financing for Acquisition of Bindi by Forno d’Asolo (BC Partners)


Milbank LLP has advised the lenders on the financing in connection with the acquisition of Pasticceria Bindi S.p.A. (“Bindi”) by Forno d’Asolo S.p.A (“Forno d’Asolo”). The financing included committed facilities and a refinancing through the private placement of senior secured notes due 2027 issued by Forno d’Asolo. A separate Milbank team advised investors purchasing notes in the placement.

Forno d’Asolo, a BC Partners portfolio company in Italy, is the leading manufacturer and distributor of frozen pastry and bakery products in the growing Italian frozen bakery market. Bindi is the leading Italian producer of frozen desserts with a significant international presence and over 70 years of history.

The Milbank team included London Leveraged Finance/Capital Markets partners Apostolos Gkoutzinis, Suhrud Mehta, Alex Grant, Rebecca Marques and Randy Nahlé and associates Aled Knights, Varun Natteri Mangadu, Shana Mirhosseini, Francesca Mosely, Bernardo Zang, Anish Mohanty, Nina Marot and Lefteris Dafermos and trainee solicitor Connor Clune. The team also included London Tax associate James Seddon and New York Tax partner Andrew Walker and associate David Hanno.