Green Arrow Capital sgr finalised a 136.2 million euros worth closing for its private debt fund (see here a previous post by BeBeez). Green Arrow Private Debt raised 108.5 million in a first closing in December 2016 from institutional investors, while the firm’s managers committed for 1.5 million. The fund set a yield target of 4%-5% for its coupons and will not provide more than 10% of its resources through direct lending for each issuer and 15% for each bond issuer. Marco Meda heads the fund, while Giovanni Mattioli acts as senior investment manager, Silvia Palma as investment analyst, and Galeazzo Scarampi as senior advisor. Eugenio de Blasio is the ceo of Green Arrow Capital sgr.
Information Sharing Company, an Italian ICT company, borrowed one million of euros in direct lending from HI CrescItalia Pmi Fund, managed by Hedge Invest sgr (see here a previous post by BeBeez). This senior unsecured loan has a five years tenure and will pay back lenders quarterly. Leonardo Rossiello is the ceo and chairman of Information Sharing Company that has sales of 4.5 million, a 0,21 million euros ebitda and a positive net financial position of 0.11 million.
Brescia Court accepted the receivership application of Milan listed coffee machines producer Bialetti (see here a previous post by BeBeez). On another hand, the Court allowed the company to borrow 17 million of euros from Och-Ziff Capital Investments through an issuance of a bond in the last week of November 2018. This non-convertible bond is the first tranche of a loan worth 27 million for which the debtors offered as collateral the brands Bialetti and Aeternum and the industrial machines of Bialetti. Once signed the restructuring agreements, Bialetti may issue further bonds with a five years tenure. Och-Ziff will also subscribe a capital increase of Bialetti for five million and get a 25% of the business. In 3Q18, Bialetti had sales of 100.2 million (123 million in 3Q17), an ebitda of minus 6.1 million (9.2 million), and net financial debt of 68.9 million (74.4 million on 30 June 2018).
Spaxs, the soon-to-rebrand firm as Illimity, acquired a portfolio of NPLs worth 347 million of euros gross from Banca Popolare di Puglia e Basilicata (see here a previous post by BeBeez). The bank has recently sold a portfolio of NPLs worth 138.9 million.
BPER Leasing Sardaleasing securitised 1.1 billion of euros of leasing credits through the SPV Multilease AS (see here a previous post by BeBeez). Multilease will carry on two issuance of asset-backed securities that will mature in July 2044: a senior tranche of 794.7 million of euros with an A rating from DBRS and an A+ rating from S&P’s, that will be listed on Dublin Stock Market; a junior tranche of 340.47 million. Stefano Esposito, the ceo of BPER Leasing Sardaleasing, said that the company will invest these resources in supporting the Sardinia’s development of industry 4.0.
Banca IFIS acquired two portfolios of Npls with a nominal value of 454 million of euros (See here a previous post by BeBeez). The bank acquired a 371 million worth portfolio from a consumer credit company, and a portfolio of 83 million of euros from Credem.
Fire, a credit servicer company, acquired from Banca Sant’Angelo a portfolio of non performing unsecured credits worth 13.1 million euros (see here a previous post by BeBeez). Claudio Manetti, ceo of Fire, said that the company is looking for further transactions of this size.
Anthilia Capital Partners closed a first fundraising round of 145 million euros for its private debt investment fund Anthilia BIT 3, that has a fundraising target of 300 million (See here a previous post by BeBeez). Giovanni Landi, the executive vice chairman of Anthilia, said that in early 2019 a new investor may pour resources in the firm with the InnovFin SME Guarantee. This investor could be the European Investment Fund.
On the corporate NPEs side, Impresa di Costruzioni ing. E. Mantovani, an Italian contractor that belongs to the Chiarotto family, forwarded an application for receivership to Padua Court as a consequence of failed payments from the consortia of Mose Venezia and Expo Milano (see here a previous post by BeBeez). Earlier in 2018, Mantovani rented its contractor activities to Coge Costruzioni Generali, which belongs to the Ferrari Family. Coge created the newco Coge Mantovani. Mantovani is still waiting for 60 million of euros worth payments from the consortia of Mose Venezia and Expo Milano.