Italian energy and utility company Optima Italia, a company of which Alpha Private Equity has 20% since 2015, carried on a securitization of its commercial credits with the support of Banca Akros (see here a . Banco BPM acted as senior noteholder and account bank (see here a previous post by BeBeez). Optima sold some of its in bonis credits through a revolving procedure and acted as subscriber of the junior notes and as sub servicer for an annual value of up to 300 million euros. Giancarlo Gargiulo is the chief financial officer of Optima Italia. In 2020, press reports said that Alpha was going to sell its stake, but suspended the plan for the covid turmoil.
Agrostar, an Italian pet food and food company, issued two minibonds for a total of 3 million euros that Zenit subscribed through Progetto Minibond Italia and Progetto Italia 4.0 (see here a previous post by BeBeez). The bonds will mature in September 2026 and September 2029 and have an amortizing repayment structure. Agrostar hired Nicola Oppio as financial advisor. The company belongs to the Burani Family. Agrostar has sales of 9.5 million, an ebitda of 0.825 million and a net financial debt of 4.4 million.
Sagitta (part of Arrow Global Group) concluded the fundraising for Arrow Credit Opportunities II (Italy) Feeder, a fund for professional investors that will pour its resources in the master vehicle Arrow Credit Opportunities II (ACO II) that ceo Zach Lewy founded (see here a previous post by BeBeez). The resources of the feeder fund could amount to 10% of third-party investors’ money in the master vehicle. In 2020, Sagitta started the 150 million euros fundraising for feeder fund Arrow Credit Opportunities (Italy) Feeder.
Montefiore Investments said it will finance its reported acquisition of Exa Group from Alcedo with the support of an Eurazeo‘s direct lending unitranche facility (see here a previous post by BeBeez).
In 1Q23, the net credits of Milan-listed illimity bank NPE unit amounted to 1.5 billion euros (in line with 4Q22, but +12% than 1Q22) (see here a previous post by BeBeez). The senior financing annually grew by 26%. Corrado Passera is the ceo and founder of illimity.
In 1Q23, Milan-listed Banca Ifis‘s Npl unit generated net profits of 19.1 million euros (in line with 1Q22 figures) (see here a previous post by BeBeez). The sector brokerage margin amounted to 69.5 million euros. The bank posted a gross Npe ratio of 6.1% and a net Npe ratio of 4.1%.
Italian TV channel GM24, a portfolio company of IGI Investimenti Group since November 2022, is in distress and it’s not paying its employees and suppliers while its clients are not receiving the items that purchased (see here a previous post by BeBeez). In 2021, GMV generated sales of 8 million euros, an ebitda of minus 3 million, net losses of 2 million, a net financial debt of 3.2 million, and equity of 4.48 million. In 2011, Giuseppe Incarnato founded IGI. The fund’s direct investments portfolio amounts to 120 million.