Lenders for Saipem SpA are working with law firm Clifford Chance LLP to help negotiate a rescue package for the Italian engineering company, according to people familiar with the matter.
The law firm is representing banks that set up a 1 billion euro ($1.14 billion) revolving credit facility for Saipem, the people said, declining to be identified because the information is private. Saipem, which hired Rothschild as a financial advisor, is being represented by law firm Chiomenti Studio Legale, some of the people said. Clifford Chance, Chiomenti and Saipem declined to comment.