In the first 8 months of the year, transactions in the Italian private debt market stood at 20 billion euros, reaching more than 70 percent of the value of the whole of 2022, when deals worth almost 27 billion euros were concluded (see here BeBeez’s Report on Private Debt 2022), not too far below the levels of 2021 when a record of 29, 6 billions was touched, including deals on corporate non performing exposures (see here BeBeez’s Report on Private Debt and Direct lending 2021), compared to 13.1 billion euros of transactions in all of 2020 (see here BeBeez’s Report on Private Debt and Direct lending 2020), when there had also been a clear increase in the size of the market, from just under 12.2 billion euros in 2019 (see here BeBeez’s Report on Private Debt and Direct lending 2019).
However, the aggregate data emerging from BeBeez Private Data hides important differences from the past two years. In particular, we can see a collapse in the value of minibond issues, that is, of bonds for amounts up to 50 million: in fact, only 57 issues were mapped in the 8 months for a total of just over 201 million euros including minibonds securitized within basket bonds, while in all of 2022 there had been 210 issues for a total value of just under 1.6 billion, much higher than the 2021 figure of 1.105 billion.
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