Milbank Advises on Financing for Almaviva’s Acquisition of Tivit Terceirização de Processos, Serviços e Tecnologia S.A.

Milbank LLP represented the financing sources in connection with Almaviva S.p.A.’s acquisition of Tivit Terceirização de Processos, Serviços e Tecnologia S.A. (“Tivit”). Milbank advised the initial purchasers in connection with a tap offering by Almaviva S.p.A.’s of €350 million 5.00% senior secured notes due 2030 and an upsize of the existing revolving credit facility to €230 million.

The proceeds of the tap offering will be used to finance the acquisition of Tivit, to repay certain of Tivit’s Indebtedness, for general corporate purposes, and to pay transaction costs and expenses.

Headquartered in Rome, Almaviva is a leading provider of mission-critical IT services in Italy and a leading provider of digital relationship management services in Brazil. Its business consists of three operating divisions organized around three principal areas of activity: IT Services, DRM and Almawave, its innovation and new technologies business.

Tivit is a leading provider of digital transformation solutions, offering a comprehensive range of digital services designed to drive innovation and efficiency across various industries. Headquartered in São Paulo, Brazil, Tivit operates throughout Latin America, delivering tailored solutions that integrate cutting-edge technology with business processes to enhance operational performance and competitiveness. The acquisition of Tivit accelerates Almaviva’s digital expansion in Latin America.

The Milbank team was led by European Leveraged Finance/Capital Markets partners Ana Grbec and Alexandra Grant, special counsel Melanie Probst, associates Giulia Petragnani Gelosi, Matteo Bonacina, Raiyan Chowdhury and Luca Mirabile and trainee solicitor Michael Brown. New York-based Global Leveraged Finance partner Spencer Pepper and associates Annaliese Snodgrass, Nick Morgan and Christelle Lobo, New York-based Tax partner Andrew Walker and associate Michelle Song and London-based Tax partner Alan Rafferty and associate Freddy Pilkington also assisted the team.