Reuters, Coin loan raises concerns about Italian settlement
20 June 2011
The syndication of the 985 million buyout for Italian retailer Gruppo Coin, the largest European buyout of the year to date, has reignited the debate about the settlement of Italian loans after the fiasco of Wind Telecomunicazione's lengthy settlement process, which started last year. Gruppo Coin's arranging banks say that the market has learnt from the mistakes made on Wind, which left investors out of pocket for months and a delay on the settlement on Coin can be avoided, particularly after the leads made concessions. Mario Lisanti is quoted discussing the need to consider slightly different structures in order to complete new LBO transactions in Italy.