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Clifford Chance appoints high-yield specialist to London leveraged finance practice

12 October 2011

Clifford Chance appoints high-yield specialist to London leveraged finance practice

Leading international law firm Clifford Chance has today announced that Fabio Diminich has joined the firm's growing European high-yield practice as a partner. Fabio will continue to be based in London, and becomes the sixth partner with high-yield expertise in Clifford Chance's Canary Wharf office.

Diminich joins from Latham & Watkins where he was a senior associate specialising in high-yield transactions, and developed relationships with key London underwriters including Goldman Sachs, Credit Suisse and Deutsche Bank. Prior to joining Latham in 2005, Diminich was an associate at Weil, Gotshal & Manges in Washington DC.

London high-yield partner Michael Dakin comments: "Fabio has established himself as a rising star in the European high-yield market. He is a genuinely exciting hire for us and we are thrilled to have him on board as this market continues to evolve, driven by reforms in the banking sector."

"Joining Clifford Chance is a great opportunity to help to grow one of the most forward-looking high-yield practices at an elite law firm," adds Diminich. "The Firm has a great team, and a breadth of banking and corporate relationships that represent a unique platform for driving the development of the European high-yield market."

This latest appointment follows closely on from Tony Lopez's transfer to London from Clifford Chance's New York high-yield team, making Fabio the third partner to join the European high-yield group since September 2010. The group also added high-yield senior associates Henry Peacock and Claudia Kim from Sherman & Sterling and Paul Hastings respectively earlier in the summer, bringing the total number of associates on the high-yield team to 16.

Diminich worked on over EUR 2bn of European high-yield transactions in 2010, and recently worked on key transactions including a USD 900 million high yield bond for Germany's biggest container-shipping line, Hapag Lloyd, and a USD 1.48bn equivalent three-part euro and US dollar deal for ConvaTec Healthcare.

Diminich is a member of the Bar Associations of Washington DC and Maryland State, as well as the European High Yield Association. He earned both his JD and an MBA in international business from the University of South Carolina in 2003, after gaining a BA in Government and Foreign Affairs from the University of Virginia and an Italian and European Business Certificate from Bocconi University School of Management.

Recent high-yield deals Clifford Chance has advised on include:

  • Advising ONO on Rule 144A/Reg. S high yield offering of €300 million 8.875% senior secured notes due 2018. This follows on from two others ONO mandates on which Clifford Chance advised in October 2010 and January 2011.
  • Advising the joint bookrunners on the $450 million senior secured bond due 2018 by Calcipar S.A, a fully owned subsidiary of Carmeuse Holding.
  • Advising PE firm EQT and the Issuer on the issuance of €202 million PIK Notes due 2019 in connection with the acquisition of Dometic Holdings AB.  This transaction was the first true PIK note issuance in Europe in the last two years and also involved SEK 6.6 billion of senior facilities, on which Clifford Chance also advised.
  • Advising printing press manufacturer Heidelberger Druckmaschinen on €300 million high yield bond due 2018.The notes were issued in connection with a complete refinancing of the company which included a €500 million revolving credit facility with respect to which Clifford Chance also advised.