Italian iconic sweets producer Ferrero issued through a private placement multi-tranched bonds worth 1 billion US Dollars denominated in US Dollars and Euros maturing in 7 – 12 years (see here a previous post by BeBeez). The company will invest such proceeds in refinancing part of the 2 billion euros credit lines that the company received for the acquisition of US competitor Wells Enterprises in 2022. Bank of America and BNP Paribas assisted Ferrero. Giovanni Ferrero and Lapo Civiletti are the executive chairman and ceo of the company which has sales of 14 billion euros.
Aboca, an Italian producer of natural food integrators and medical devices received financing facilities of 55 million euros from BNL BNP Paribas and UniCredit (see here a previous post by BeBeez). The company borrowed a SACE-warranty 6-years 31 million ESG-linked facility for which it will pay a lower interest upon the achievement of ESG targets. The banks also provided the firm with a 5,5-years unsecured loan of 24 million. Valentino Mercati founded Aboca in 1978. The company has sales of 210 million euros, an ebitda of 28.5 million and a net financial debt of 94.7 million. Massimo Mercati is the ceo of Aboca that belongs to the Mercati Family.
Gruppo Amenduni Tubi Acciaio, an Italian steel producer, received from BPER Banca a revolving credit line of 12 million euros with the warranty of SACE (see here a previous post by BeBeez). The company will invest these resources in purchasing commodities from foreign suppliers. Amenduni belongs to the eponymous family and has sales of 227.5 million euros, an ebitda of 17.4 million and a net debt of 34.4 million. Michele Amenduni is the company’s chairman and founder.
Equita Private Debt Fund invested 15 million euros in financing an undisclosed German food retailer (see here a previous post by BeBeez). Equita co-invested with Pemberton. Market observers said that the borrower could be Bäcker Görtz, a 130 million revenues portfolio company of FSN Capital Partners. Paolo Pendenza is a managing partner of Equita Capital and heads the private debt unit.
Milan-listed Azimut launched Azimut Diversified Corporate Credit ESG-8 SCSp RAIF, a senior private debt fund Art 8 EU Sustainable Finance Disclosure Regulation (SFDR) – compliant (see here a previous post by BeBeez). The vehicle already attracted a commitmentsof 30 million euros from the European Investment Fund (EIF). Francesca Bartoli, the head of Azimut Direct economic analysis, previously said that the vehicle set a fundraising target of 250 – 500 million target and that is going to invest up to 500 million in minibond and direct lending deals with Italian SMEs by 2024. Azimut Diversified Corporate Credit
