Compagnia Valdostana delle Acque – Compagnie Valdotaine des Eaux (CVA), an Italian utility, issued a 30 million euros bond as part of an up to 200 million US Dollars Private Shelf Agreement (see here a previous post by BeBeez). Pricoa Capital, part of PGIM – Prudential Financial, subscribed the senior unsecured 15-years Dublin-listed bond that pays a fixed rate bond. Mediobanca acted as sole arranger while CVA retained Orrick, Herrington & Sutcliffe and CORE Advisory. PGIM received assistance from Akin Gump Strauss Hauer & Feld.
Tages Capital launched Tages Credit Fund for supporting Italian SMEs (see here a previous post by BeBeez). The vehicle attracted commitments for 80 million euros and aims to announce the first closing and first investment in early 2024. Giovanni Mattioli heads Tages Credit Fund for which Eleonora Astori and Silvia Palma act as investment directors.
Nigro & C. Costruzioni issued a 3.6 million euros bond with the warranty of SACE that Banco BPM subscribed (see here a previous post by BeBeez). The company will invest such proceeds in the development of Viola Park, the sport campus of Italian Serie A team Fiorentina. Giovanni Nigro is the ceo of Nigro & C. Costruzioni which has sales of 64.6 million, an ebitda of 2.4 million and a net debt of 9.9 million.
Latium’s SMEs can start applying for Basket Bond Lazio, a programme of the region that has the support of Mediocredito Centrale (MCC), Banca Finint, Banca Finnat, and Artigiancassa (see here a previous post by BeBeez). Cassa Depositi e Prestiti and MCC will acquire the asset backed securities of Basket Bond Lazio that will have the warranty of Fondo di Garanzia Minibond (FGM – part of Lazio Innova) for up to 25% of the portfolio’s losses. FGM has resources of 15 million euros for an up to 60 million worth portfolio that must be complete by 3 September 2025. Lazio Innova allocated 2 million for covering up to 50% of issuance fees. Eligible companies may generate revenues of at least 5 million, a 4% ebitda/turnover, a credit rating of at least BB-.
IGI Private Equity (76.58%) and Siparex (7.38%) sold their stakes in Italian logistic company Bracchi to Argos Wityu, Anima Alternative, Clessidra Private Debt Fund and the target’s ceo Umberto Ferretti (see here a previous post by BeBeez). Anima Alternative and Clessidra Private Debt Fund issued a junior financing facility, while BNL and Banco BPM provided a senior facility. Igi acquired Bracchi in 2016. DC Advisory, Roland Berger, EY Parthenon, FieldFisher, EY, Giovanelli & Associati, and WTW assisted the buyers. Lazard, Chiomenti, Molinari Agostinelli, and KPMG advised the vendors. Bracchi has sales of 190 million.
Anthilia MUST, a multistrategy vehicle of Anthilia Capital Partners, closed its second placement window of 33.4 million euros (see here a previous post by BeBeez). Daniele Colantonio, partner, is the head of products development of Anthilia.
Tenax Capital Limited provided Lingotto Hotels (part of Gruppo IPI) a 3 million euros financing facility with the warranty of Sace and received assistance from RPLT, sources said to BeBeez (see here a previous post by BeBeez). The borrower will invest such proceeds in refurbishing its hotels.
Milan-listed Crowdfundme, an Italiana equity crowdfunding platform, and Fundera, a portal for private debt and minibond placement that belongs to Frigiolini & Partners Merchant signed a partnership (see here a previous post by BeBeez). The investors on Crowdfundme will now have the possibility to invest in the minibonds available on Fundera. Tommaso Baldissera Pachetti is the ceo of CrowdFundMe. Sources said to BeBeez that the firms reached an agreement shortly.
Gruppo Dedem, an Italian producer and manager of cabine vending machines and amusement spaces for shopping malls, issued a 5 million euros minibond that Riello Investimenti Partners subscribed (see here a previous post by BeBeez). Dedem will invest the raised proceeds in its organic development and retained Urania Corporate Finance as advisor.
F&P Equity Partners (a club deal platform for private equity transactions) acquired 65% of Righi Elettroservizi with the support of Classidra Private Debt that provided a mezzanine facility (see here a previous post by BeBeez).The Righi Family reinvested for a 35%. Crédit Agricole Italia and BPER Banca provided further resources. F&P Equity Partners hired Pedersoli Studio Legale, RTZ, Efeso Consulting and Ramboll. The Righi Family appointed Deloitte Financial Advisory and Deloitte Legal. Clessidra Capital Credit received assistance from Molinari Agostinelli Studio Legale, while Simmons & Simmons assisted the banks. Righi has sales of 53.4 million euros, an ebitda of 7.1 million and net debts of 9.5 million. Righi aims to carry on M&A transactions.
In Group, a testing & inspection platform company that belongs to Bravo Capital Partners, acquired Italian competitor In Situ and retained Ethica Group as debt advisor (see here a previous post by BeBeez). Banco Bpm provided the buyers with a sustainable linked loan that set ESG covenants. Advant NCTM assisted the lender while Pedersoli advised the borrower. In Situ has sales of 6 million euros, an ebitda of 1.2 million and a net financial debt of 0.68 million. Massimiliano La Porta will keep his role as chairman and ceo of the target. In Group has sales of above 30 million and aims to carry on further acquisistions.
Duferco Energia, an Italian utility company, carried on a securitization for a portfolio of commercial credits for an undisclosed amount with the support of UniCredit (see here a previous post by BeBeez). Allen & Overy and Legance advised Duferco which has sales of 7.72 billion euros, an ebitda of minus 85 million, equity of 237.97 million and a net financial debt of 110 million.
