Italian packaging company Guala Closures, a portfolio asset of Investindustrial, acquired the majority of Chinese competitor Yibin Fengyi Packaging and financed the transaction with a senior secured bond of 350 million euros (see here a previous post by BeBeez). The company is also going to pay a 250 million dividend and carrying-on further acquisitions in China. The Luxembourg-listed bond will mature on 29 June 2029 and pays a coupon of 3M Euribor (0 floor) plus 400 bps. Guala also received a 54 million increase of the revolving credit lines from Deutsche Bank, UniCredit, Goldman Sachs, and Bank of America. Chiomenti and Paul, Weiss assisted Guala Closures while the lenders retained Latham & Watkins.
Banca CF+ (fka Credito Fondiario), an Italian challenger bank that invests SMEs performing or re-performing credits that belongs to Elliott and Tages, issued a 35 million euros tier 2 bond listed on Milan market (see here a previous post by BeBeez). The issuance will mature in 2033. Banca CF+ can exercise a call option after five years (NC5) while the annual coupon is of 14.5%. Intesa SanPaolo acted as sole lead manager and received the legal support of Clifford Chance. Iacopo De Francisco is the ceo and coo of Banca CF+ that retained BonelliErede.
Koster, an Italian enviromental care company, received a 14.5 million euros financing facility from Intesa SanPaolo with the warranty of SACE (see here a previous post by BeBeez). The company will invest the proceeds in the construction of a high energy efficiency production plant. Costanzo Borda is the ceo of Koster which has sales of 9.8 million, an ebitda of 1.5 million and a net debt of 4.9 million.
Fenice Immobiliare Generale hired Yeldo for issuing a certificate for Via Giannone 2, a Milan-based real estate development project (see here a previous post by BeBeez). DWF assisted Yeldo while DLA Piper advised Fenice Immobiliare. In March 2022, Fenice raised 4 million euros equity through a crowdfunding campaign on Concrete Investing for Via Giannone 2. Fenice carried on an exit for 4.69 million after a holding period of 18 months (30 months expected), a ROI of 17.25% (28.3% expected) and an IRR of 11% (10.5% expected).
RossoGargano, an Italian food company, received a direct lending facility of 6 million euros (a term loan and a revolving line for supporting the working capital) through Azimut Direct (see here a previous post by BeBeez). SACE provided a warranty for such facility that an institutional investor will provide in three tranches of 2 million each. RossoGargano has sales of 49.6 million, an ebitda of 3.1 million and a net financial debt of 16.4 million. The company belongs to Domenico Demaio (chairman – 17.17%), Giovanni Demaio (6.63%), Nazzareno Zerillo (16.33%), Luigi Zerillo (16.01%), Società Agricola F.lli Zerillo (2.42%), DEMA (13.84%), Lucia Scirpoli (11.01%), Nicola Linsalata (9.09%), Emanuele Linsalata (3.09%), and other minority shareholders.
Italian Società Agricola Ugo Pizzicannella, a company active in the processing of chestnut wood for energy production, issued a 3.5 million euros minibond maturing in December 2029 that Anthilia BIT and Anthilia MUST, two vehicles of Anthilia Capital Partners, subscribed (see here a previous post by BeBeez). Orrick Herrington & Sutcliffe advised the investor while Studio Legale Bardanzellu assisted Pizzicanella that will invest the raised proceeds in its core business.
Italian industrial company Co.mec. issued a short-term one year minibond of one million euros as part of the Master for serial issuers of Frigiolini & Partners Merchant (see here a previous post by BeBeez). The company placed the issuance on Fundera, a crowdfunding portal that belongs to Frigiolini & Partners, while Fondo di Garanzia per le pmi provided a warranty for 80% of the issuance. Co.mec signed a call option for an earlier repayment. Earlier in April, the company issued a one million minibond with a 5% coupon (see here the BeBeez Private Debt Report 2022, available for the subscribers to BeBeez News Premium and BeBeez Private Data). Co.mec. belongs to Alberto Dal Poz (46.1%), Moschini (24.5%), And (23.4%), Federico Dal Poz (3.2%), and Anna Petrelli (2.8%). The company has sales of 17.3 million, an ebitda of minus 0.113 million, a net debt of 11 million, and equity of 5.5 million. Leonardo Frigiolini is the chairman of F&P Merchant and the ceo of Fundera.
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