In 2021, Milan-listed Banca Ifis purchased NPEs worth 3.7 billion euros (see here a previous post by BeBeez). As a result, the bank has a 52% market share (34% in 2020) in the unsecured retail and corporate segment.
Italo Sicav, a vehicle that Gamma Capital Markets manages, sold a portfolio of unsecured NPLs with a face value of 483 million euros toMilan-listed Integrated System Credit Consulting Fintech spa (ISCC Fintech) (See here a previous post by BeBeez). Conafi Prestitò is the owner of ISCC.
Milan-listed real estate developer Borgosesia and Stockholm-listed DDM Group Holding launched the securitization programme AssetCo. AssetCo will buy NPEs and their real estate collaterals worth up to 300 million euros (Capex included). The vehicle has already acquired 4.5 millions (14 millions GBV) credits with 45 flats based in the Milan area as collateral. DDM subscribed to 90% of the abs notes (see here a previous post by BeBeez). Borgosesia also announced the acquisition of a real estate asset in Gardone Riviera (Brescia) and the acquisition of the Colombera Golf Resort in Castrezzato in Franciacorta (Brescia).
Banca Valsabbina sold NPEs for 3 million euros to BPER Bank Luxembourg (see here a previous post by BeBeez). Banca Valsabbina’s gross NPEs dropped from 231 millions from 261.3 millions at the end of 2020 with a gross NPE ratio of 6.2% (from 7.3%).
FBS Next, a servicer for NPEs that Paolo Strocchi and his kids Federico and Filippo founded in 2020, launched Argo UTP Solutions, a tool for managing banks UTPs that developed with PwC (see here a previous post by BeBeez). Milan-listed Tinexta paid 2 million euros for 30% of FBS Next.
Illimity Credit & Corporate Turnaround fund, managed by Illimity sgr, raised 80 million euros in a new fundraising closing reaching resources of 280 millions (see here a previous post by BeBeez). The vehicle, which set a fundraising target of 350 millions and a hard cap of 600 millions, is investing in corporate UTPs that are on the Italian banks books.
Milan-listed real estate fund Coima Res received from Crédit Agricole CIB, BNP Paribas, ING Bank and UniCredit a green loan of 165 million euros (see here a previous post by BeBeez). The borrower will invest the resources for refinancing its portfolio assets and reducing their energy demand by 30%. The facility has a 5-year tenure and a 2.1% cost.
The European Investment Fund (EIF) poured 70 million euros into the Italian private debt fund Anthilia BIT IV (see here a previous post by BeBeez). Anthilia BIT will co-invest together with vehicles of Anthilia Capital Partners but can allocate up to 20% of its portfolio in independent deals. The European Warranty Fund supported EIF for such an investment. Anthilia BIT attracted commitments for 171 million ahead of a total fundraising target of 250 million euros.
Eurolls, an Italian producer of industrial components, received a 4 million euros direct lending facility through the fintech Azimut Direct (fka Epic Sim), part of Milan-listed Azimut (see here a previous post by BeBeez). The facility has a four-year tenure and an institutional investor subscribed to it. Eurolls has sales of 38.3 million, an ebitda of 5.7 million and will invest the proceeds in purchasing commoditites for its activity. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
Franzese, a canned food producer, received a 4 million euros direct lending facility through the fintech Azimut Direct (fka Epic Sim), part of Milan-listed Azimut (See here a previous post by BeBeez). The facility has an eight-year tenure, Sace warranty and an institutional investor subscribed to it. Franzese has sales of 30.7 million, an ebitda of 1.8 million and a net debt of 13.7 million. The company will invest these proceeds in its organic growth and R&D. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
Roboqbo, an Italian producer of industrial machinery for the food sector, issued a minibond of 1 million euros that Fundera fintech platform placed (see here a previous post by BeBeez). The bond is due to mature in June 2023 and received a warranty of 80% from Fondo di Garanzia per le Pmi. The gross yield is of 4%. Roboqbo has sales of 12.2 million, an ebitda of 0.890 million and a net debt of 3.7 million. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
Madre Holding, a renewable energy company that is part of Undo, issued a minibond of 3 million euros that Iccrea Banca (two million) and Blu Banca (part of Banca Popolare del Lazio – one million) subscribed (see here a previous post by BeBeez). The bond grants a 4.5% yield and will mature in 2027. Madre has revenues of 17 million. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
