The Italian NPL and private debt markets are sparkling.
Iccrea Bank may sell its platform for the management of distressed credits or sign a partnership with an industrial peer (see here a previous post by BeBeez). Iccrea hired BlackRock and Kpmg as advisors and will make a decision by April 2019. Iccrea has assets of 150 billion of euros and equity of 11.5 billion and recently sold a portfolio of Npls with a nominal value of 2 billion.
Paris-listed financial investor Tikehau Capital, launched Tikehau Fondo per l’Economia Reale Italiana, a private debt fund focusing Italian SMEs (see here a previous post by BeBeez). Fondo Italiano d’Investimento invested 65 million euros in the fund that was structured just for this investors and will coinvest with other funds. Luca Bucelli, is the country manager of Tikehau Capital for Italy, while Roberto Quagliuolo heads the Italian private equity operations.
Arpe Group, the strategic consultancy firm that seasoned Italian businessman Fabio Arpe founded, aims to focus on the SMEs that have debt that risk to underperform or to become UTP (unlikely-to-pay) (see here a previous post by BeBeez). According to IFRS9 accounting standard, companies that have sub-performing and under-performing debts must provide a business plan to lenders. Arpe group aims to help SMEs that face this kind of problems.
P&A Public Lighting, a Naples-based provider of street lighting, issued an ExtraMot Pro – listed secured green minibond senior due to mature on December 2038 worth up to 17.3 million of euros (see here a previous post by BeBeez). P&A Public Lighting belongs to Pagano & Ascolillo, a company that Antonio Pagano, Antonietta Pagano, and Giulia Martinucci.
