Italian luxury fabric maker Cotonificio Albini attracted a 15 million euros secured financing facility from Banca Popolare di Sondrio, Banca Sella, Deutsche Bank, and Finlombarda (see here a previous post by BeBeez). Banca Finint acted as a sole arranger and agent. Advant Nctm assisted the lenders and DLA Piper advised Cotonificio Albini, a company that belongs to the eponymous family and has sales of 175 million. Cotonificio Albini will invest such proceeds in innovating its production process.
Free Luce & Gas, an Italian utility, issued a 4 million euros sustainability linked minibond that UniCredit subscribed(see here a previous post by BeBeez). The company will invest such proceeds in improving in 5 years its ESG Cerved Rating. Free Luce & Gas belongs to Umberto Paparelli (40%), Francesco Paparelli (ceo – 32%), Eleonora Paparelli (20%), Domenica Sacconi (10%), and other minority shareholders. Free Luce & Gas has 120.1 million, an ebitda of 3.5 million and a net financial debt of 3.6 million
Regione Emilia Romagna launched a basket bond programme of 100 million euros for supporting the ESG investments of local SMEs (see here a previous post by BeBeez). The application deadline is 11 April, Thursday. BPER Banca and Cassa Depositi e Prestiti will evenly subscribe to the asset backed notes of a special purpose vehicle that will acquire the minibonds. A 25 milion warranty fund will cover 100% of losses for up to 25% of the minibonds portfolio with a 1 to 4 leverage ratio. The issuances will be of 2 – 4.8 million with a tenure of 8 years and a pre-amortisation period of up to 24 months. Local SMEs with sales of at least 5 million and a credit rating of at least BB- or an ebitda margin of 4% and above or a PFN\ebitda ration below 5X.
Endeka attracted a 13 million euros commitment from CDP for its private credit fund (see here a previous post by BeBeez). The fund previously received a 25 million commitment from the European Investment Fund‘s programme InvestEU. Endeka Credito Italia will provide financing facilities of 0.15 – 0.7 million for which Fondo Centrale di Garanzia Pmi will provide a warranty.
