Milan-listed Danieli, a producer of industrial machinery for the steel industry, raised from Cdp financing facility of 94 million renminbi (equal to about 12 million euros, see here a previous post by BeBeez). For providing such a facility, Cdp invested the remaining part of the resources it had raised through the so-called Panda Bond issue of 1 billion renmimbi (or 130 million euros) issued in July 2019. Cdp has now invested all the proceeds of that first Panda Bond and could make another issuance. Danieli will invest the financing facility in its growth in China.
French mezzanine debt provider Capza (fka Capzanine) appointed Stefano Zavattaro as partner and Italian country manager (see here a previous post by BeBeez). Zavattaro will be in charge of Capza’s investments in Italian SMEs and of supporting the development projects of the portfolio companies of the fund. Zavattaro will work with the associate Tommaso Galletta and hire further resources. Capza has assets under management of 4.7 billion euros and in early 2018 launched Capza Transition (fka Capzanine Situations Spéciales) that raised 194 million.
Intesa SanPaolo recently concluded two synthetic securitizations: Garc Corp 3, for a portfolio of corporate financing facility worth 3 billion euros and another for a portfolio of 42 project finance facilities for building alternative energy plants for a total of 1.3 billion (see here a previous post by BeBeez). The plants can generate a power of 7.2 GW. Two years after the closing, Intesa SanPaolo will have the possibility to include further green project finance facility for having the possibility to lend further money to companies that aim invest in clean energy. Please click here or write to info@edibeez.it for further information about the subscription procedure. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
In 2020, Generalfinance, a provider of factoring finance to companies in distress, posted a turnover of 761 million euros (up 29% yoy) (se here a previous post by BeBeez). The company results are below the targets set for the 2019-2021 business plan that aimed for a turnover of 910 million in 2020 and of 1.2 billion in 2021. In 2020, General finance issued credit facilities for 561 million (+26%). Generalfinance was born in 1982. Massimo Gianolli (ceo) owns 53% of the firm, while Credito Valtellinese (CreVal) has 47% since June 2017. In March 2020, Generalfinance said it was considering an ipo or a trade sale.
Amundi sgr set a fundraising target of 60 million euros for Amundi Eltif AgrItaly Pir, a vehicle that will invest in the Italian agrifood companies (see here a previous post by BeBeez). Amundi Eltif AgrItaly Pir will have a tenure of 7 years wit the possibility of extending the investment period by a further year for selling the assets. The vehicle will invest in unlisted debt instruments and eventually is junior bonds and equity. The subscription period for Amundi Eltif AgrItaly Pir will end on 17 June 2021 or earlier on the achievement of the fundraising target. However, Amundi could provide further possibilities for investing in the Eltif. Stefania Peveraro, the chief editor of BeBeez, detailed about the private market products for private banking clients in her book “Private Capital. Esperienze e soluzioni. Ecco perché la finanza alternativa funziona” (click here for free download) of which EdiBeez is the publisher.
Meic Services, a Sicilian utility, issued a 6-years sustainability-linked bond of 3.5 million euros that Unicredit subscribed (see here a previous post by BeBeez). The company committed to implement more enviroment-friendly production process. . The bond has a step up/step down mechanism that will increase/reduce the coupon payments depending on the company’s capability of reducing its CO2 emissions. Meic has sales of 15.5 million with an ebitda of 2 million.
Italian packaging company Scatolificio Salernitano issued a short term minibond of up to 0.5 million euros maturing on 9 December 2021 with a gross yield of 3.8%, that could receive the public warrant (see here a previous post by BeBeez). SICI acted as anchor investor for this bond that the company placed on Fundera, a crowdfunding portal that belongs to Gruppo Frigiolini & Partners Merchant. In February 2017, Scatolificio issued a Milan-listed bond of 0.35 million that matured in February 2018 and paid a 2.25% coupon, while in July 2020 issued a 4 million minibond as part of the basket bond programme Garanzia Campania. Scatolificio Salernitano has sales of above 34 million with an ebitda of 3 million. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
At the end of 2020, the Palermo Court accepted the debt restructuring proposals of KSM and of Sicurtransport, two security companies that belongs to BIKS Group and the Basile Family (See here a previous post by BeBeez). Unicredit and the other lending banks, the Italian Inland Revenue, Sicily’s Inland Revenue and Inps, the Italian pensions institute, agreed to such a restructuring worth in the region of 100 million euros. BIKS Group also owns security companies Sicurcenter, Saetta Trasporti and Argo.
Maurizio De Filippo, the judicial commissioner of Galimberti, started to sell assets of Euronics, the chain of consumer electronic shops that belongs to Paolo Galimberti and his Family that is in eactraordinary administration since March 2020 (see here a previous post by BeBeez). On 14 January 2020, Milan Court issued an insolvency sentence for the company. De Filippo aims to sell fetch 2.34 million euros out of the sales of shops based in Como, Lonato del Garda, Milan (two), Pavia, Limbiate, and Seregno. Interest parties will have to deposit 20% of their total bid.
Euro Service acquired a portfolio of NPLs worth above 87 million euros that Enel Energia generated (see here a previous post by BeBeez). The sale took place through the spv Heritage which issued asset backed notes. After such a deal Euro Service’s assets under management amount to 1.5 billion.
