Carlo de Vito Piscicelli

Cleary Gottlieb Steen & Hamilton

Carlo de Vito Piscicelli is a London and Milan based partner of Cleary Gottlieb. His practice focuses on leveraged finance and restructuring matters and he advises clients globally on a wide variety of loan facilities, high-yield notes and related derivatives transactions.

Carlo joined the firm in 2004, became counsel in 2010, and a partner in 2014. From 2004 to 2010, he was resident in the Milan and London offices, and from 2010 to 2012, he was resident in the New York office. Carlo previously worked for Simpson Thacher & Bartlett LLP in New York and Studio Legale Pedersoli in Milan.

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Term Loan B facilities

Practice notes

This Practice Note discusses Term Loan B (or TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors. It explores the structure of a typical TLB facility, how it differs from traditional leveraged loans in Europe, its key features and recent trends.

Banking & Finance