CRIF, an Italian credit information provider, issued a 12-years 45 million euros bond that Pricoa Private Capital (part of Prudential Financial) (see here a previous post by BeBeez). This issuance is part of a 125 million US Dollars shelf facility agreement that the company had signed in 2016. CRIF has sales of 567 million with an ebitda of 26 million. The company will invest such proceeds in its 350 million euros investment plans for 2021-2023. Carlo Gherardi is the ceo of CRIF.
Fondo Italiano d’Investimento received from Intesa Sanpaolo two ESG-linked revolving financing facilities for its funds of funds: one worth 30 million euros for FOF Private Equity Italia and one worth 25 millions for FOF Private Debt Italia (see here a previous post by BeBeez). Intesa Sanpaolo will assess FII and its investment targets through the same direct key performance indicators.
Milan-listed Italian Wine Brands (IWB) aims to issue a 6-years non-subordinated unscured non-convertible senior bond of 100 – 130 million euros (see here a previous post by BeBeez). The bond will be dedicated to the public and listed on Milan and Dublin market and yield at least 2% annually with a bullet repayment at maturity. IWB is born in 2015 out of the business combination of Giordano Vini with the pre-booking company Ipo Challenger. IWB belongs to Otus Capital Management (9.93%); Provinco (9.08%); IPOC (8.69%), and Praude Asset Management (6.33%). The company has sales of 204.3 million, an ebitda of 25.6 million and net cash of 1.4 million. In March 2020, IWB acquired Swiss Raphael Dal Bo and will invest the proceeds of the issuance in further acquisitions.
On 16 April, Friday, Milan-listed paytech Nexi priced two unsecured senior bonds of 1.05 billion euros each with a coupon of 1.625% (maturity in 2026) and 2.125% (2029) (see here a previous post by BeBeez). The bonds received a rating of Ba3 (Moody’s), BB (Fitchratings) and of BB- (S&P Global Ratings). Nexi is refinancing the debt of both Nets and SIA, respectively the Danish and Italian groups that are merging with Nexi, giving birth of a major paytech listed group in Europe which will be controlled by Cassa Depositi e Prestiti and a consortium of private equity investors.
Imi Montaggi Industriali, an Italian producer of components for the production of industrial machinery, placed a 4 million euros minibond on crowdfunding platform CrowdFundMe (see here a previous post by BeBeez). The bond is due to mature in 5 years and has an annual yield of 5% with an amortizing reimboursement plan after 2 years and will pay the interest with postpaid biannual coupons. The least investment ticket amounts to 10k euros that professional traders and specific retail investors with net worth of above 250k euros can subscribe. The bond is senior unsecured and the company will list it on the ExtraMot Pro Milan market. IMI has sales of 11.7 millions, with an ebitda of more than 1.8 millions. Giuseppe Liccardi (ceo) owns 90% of Imi, while Di Lorenzo has 10%. The company received a rating of A3- (top end) from Modefinance.
Immobiliare Percassi (IP) aims to place a minibond of up to 1.98 million euros on Crowdbond, a subsidiary of the crowdinvesting portal Opstart (See here a previous post by BeBeez). The bond pays an annual interest of 6.75% and is due to mature on 31 August 2025. IP provided as collateral the equity of its subsidiary Broseta Due and previously issued a Vienna-listed bond worth 3.02 million. Easyfintech, a partner of Opstart for the financial profiling of firms, said that IP is solid.
On 29 March, Monday, started the second period of placement for the minibond of ARC Real Estate, an provider of information about the distressed credit market (see here a previous post by BeBeez). In December 2020, Arc placed the minibond oncrowdfunding platform Crowdbond, part of the equity crowdfunding platform OpStart, with a target of up to 1.5 millions and later listed it on Vienna market. Arc placed 0.94 million on Crowdbond, while the whole size of the bond amounts to 1.04 million. The bond is due to mature in December 2025, pays a 6% coupon and received a 90% warranty from Mediocredito Centrale (MCC). The company will invest the raised proceeds in the acquisition of portfolios of NPLs with a face value of 0.5 – 10 million (for secured and unsecured credits) and of 1 – 50 million of unsecured credits. The bond will pay investors with a 5% reward if the portfolios of NPLS will generate an above 70% net financial performance.
TrenDevice, a Milan-listed company that refurbishes hi-tech devices, aims to issue by June 2021 a 4 million euros minibond with a 6-years maturity (see here a previous post by BeBeez). The least investment ticket is of 0.1 million, while the coupon will be of 3.5% – 4.5%. TrenDevice will apply with MCC for a 90% warranty and for a listing of the bond on Milan market. Trendevice has sales of 9.27 million, an ebitda of 0.753 million and net losses of 0.238 millions.
Italian car dealer Amica issued an up to 0.5 million euros minibond due to mature on 20 April 2022 and with a 90% warranty of Mediocredito Centrale (MCC) (See here a previous post by BeBeez). The coupon is of 3.85%. The issuant has the possibility of repaying the bond earlier and pay a reward to the investor. This issuance is part of Finance 4 Automotive a programme that F&P Merchant launched in 2019. Francesco Palmesano is the ceo of Amica, which has sales of 39.9 million with an ebitda of 1.25 million.
Milan Public Prosecutor’s Office, through the prosecutor Roberto Fontana, asked for the bankruptcy of Cin (Compagnia Italiana di Navigazione), the good company born from the privatization of the former state-owned Tirrenia by the shipowner Vincenzo Onorato (see here a previous post by BeBeez). The bankruptcy request was made because Cin was not able to reach a debt restructuring agreement as expected with 60% of the creditors, so it couldn’t submit to the Court the promised composition plan at the set deadline. We recall that Moby the plan on which an agreement with creditors was looked for included fresh capital to be injected by Europa Investimenti/Arrow Global.
