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News Jul 27, 2020

Centurion’s Private Placement of PIK Toggle Notes to AlbaCore Capital Group

Shearman & Sterling advised AlbaCore Capital Group (AlbaCore), a European credit manager, as note purchaser in connection with the placement of Senior Secured PIK Toggle Notes due 2028 (the PIK Notes) issued by Centurion Newco S.p.A.

The PIK Notes were issued as part of the committed financing for the acquisition of Engineering Ingegneria Informatica S.p.A. (the Target) by Bain Capital and Neuberger Berman. The Target is a leading specialist provider of IT services, software and digital solutions in Italy.

AlbaCore Capital Group is an independent European credit manager headquartered in London with c.€5 billion under management. AlbaCore takes a patient, long-term investment approach to opportunities across corporate credit markets. The credit selection process is based on fundamental research and focused on capital preservation and risk-adjusted total returns, with the key goal of protecting investors capital and consistently outperforming the market in the long term.

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