Martin Pugsley

Partner, Delfino e Associati

Milan
Studio Legale Delfino e Associati
Willkie Farr & Gallagher LLP
Via Michele Barozzi, 2
20122 Milan
T +39 02 76363 1
F +39 02 76363 636
mpugsleydelfinowillkie.com

Martin Pugsley is a partner in the Corporate and Financial Services Department and head of the Italian office’s Banking/Debt Finance Practice Group. He practices in the area of English and Italian finance law covering both debt and equity transactions. His practice includes: project finance, particularly in the energy sectors; asset finance, particularly ECA-backed export finance; trade receivables financings (Law 52 securitisations); alternative investments; Euronext listings of special purpose acquisition companies (SPACs); Italian real estate financings; Italian acquisition finance transactions; cross-border asset finance transactions. Martin is qualified in both England and Italy and is therefore able to provide common law jurisdiction clients with practical legal advice for investing in companies, assets or real estate located in a civil law jurisdiction. 

Martin is ranked in a number of leading legal directories, including Chambers Global and Legal 500, and is also named as a "Recommended Lawyer" in Italy by Practical Law, having written their Secured Lending Handbook – Italy from 2008 - 2012.

Martin is fluent in English and Italian. 

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Martin Pugsley is a partner in the Corporate and Financial Services Department and head of the Italian office’s Banking/Debt Finance Practice Group. He practices in the area of English and Italian finance law covering both debt and equity transactions. His practice includes: project finance, particularly in the energy sectors; asset finance, particularly ECA-backed export finance; trade receivables financings (Law 52 securitisations); alternative investments; Euronext listings of special purpose acquisition companies (SPACs); Italian real estate financings; Italian acquisition finance transactions; cross-border asset finance transactions. Martin is qualified in both England and Italy and is therefore able to provide common law jurisdiction clients with practical legal advice for investing in companies, assets or real estate located in a civil law jurisdiction. 

Selected Significant Matters

  • acting for Eni on the US$800 million export financing of an oil rig, led by Citibank and backed by the Norwegian export agency (GIEK)
  • acting for Enel Green Power on the €112 million export financing of wind turbines for a Romanian wind farm, led by Citibank and backed by the Danish export agency (EKF)
  • acting as deal counsel on the €135 million acquisition / export financing by Tenova led by BNP Paribas and Commerzbank and backed by SACE
  • acting for ICBC on the €250 million refinancing of the Ferretti group
  • acting for Banca Intesa on the €900 million restructuring of the Endemol debt, and subsequent €100 million debt sale of its participation
  • acting for Kazakhstan joint venture KPO on an international arbitration relating to an oil pipeline dispute
  • acting for UBS Limited in two €100 million bilateral loan agreements for an Italian energy company
  • acting for RBS on the rationalisation of its Italian loan portfolio
  • acting for EBRD (the European Bank for Reconstruction & Development) on numerous Italian local enterprise facility (LEF) financings in the Balkans
  • acting for I-Bankers Securities on a wide variety of capital markets transactions including Euronext listed SPACs and US reverse mergers and PIPEs
  • acting for Po Valley Energy on all aspects of its Italian oil and gas operations, including pre-FDP facilities, gas sales off-take arrangements and O&M contracts
  • acting for Terra Firma (Hotel Borgo Villa Saletta) on all aspects of its financing of a hotel development in Italy
  • acting for Techint on various project financings including the Yanbu refinery in Saudia Arabia and the US$810m Damietta methanol plant in Egypt
  • acting for HSBC, SEB, GE Capital on various Law 52 trade receivables financings in Italy
     

Selected Publications and Lectures

  • 2008: Factoring in Italy, an overview of the Italian trade finance market and current growth areas, Business Money
  • 2008: Affacturage Inversé: L'exemple Italien, Revue Banque
  • 2008: Secured lending: Italy (A Q&A guide to secured lending in Italy), www.practicallaw.com
  • 2009: The potential of international factoring, BCR Factorscan
  • 2009: Secured lending: Italy (A Q&A guide to secured lending in Italy), www.practicallaw.com
  • 2010: Secured lending: Italy (A Q&A guide to secured lending in Italy), www.practicallaw.com 
  • 2012: Secured lending: Italy (A Q&A guide to secured lending in Italy), www.practicallaw.com

Recognition, Honors & Awards

  • Chambers Global (Banking): "Milan-based Martin Pugsley is a UK-qualified solicitor and also admitted as an avvocato to the Rome Bar. His practice encompasses project finance, real estate finance and all types of cross-border finance transactions".
  • Chambers Europe: "Dual-qualified Martin Pugsley is an increasingly noticeable presence within the firm. He advises clients on cross-border transactions, capital markets, project finance and asset finance".
  • Legal 500: Cited for his debt capital markets and equity capital markets experience.
  • PLC (which lawyer): Cited for his project finance experience. 

Recognition, Honors & Awards

  • Chambers Global (Banking): "Milan-based Martin Pugsley is a UK-qualified solicitor and also admitted as an avvocato to the Rome Bar. His practice encompasses project finance, real estate finance and all types of cross-border finance transactions".
  • Chambers Europe: "Dual-qualified Martin Pugsley is an increasingly noticeable presence within the firm. He advises clients on cross-border transactions, capital markets, project finance and asset finance".
  • Legal 500: Cited for his debt capital markets and equity capital markets experience.
  • PLC (which lawyer): Cited for his project finance experience. 
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