Italian multiutility Etra, a B-Corp, received a financing facility of 100 million euros with a 20 years tenure from the European Investment Bank (EIB) (see here a previous post by BeBeez). BonelliErede assisted the borrower. The facility is part of the EIB’s InvestEU programme. Etra will invest such proceeds in the development of waste management plants, water supply systems, the purchase of biomethane-fuelled vehicles and the extension of water networks.
Marullo, Movinter and Rfltc-Inox, three Italian SMEs, joined RedFish Basket Bond, a programme for supporting private equity – backed companies that Banca Finint structured and RedFish Capital Debt launched (see here a previous post by BeBeez). The first issuance is worth 12 million euros ahead of a 70 million target. Redfish Basket Bond spv will issue the bonds and financed the deal through senior asset backed partly paid notes (Banca Finint subscribed) and a junior tranche that attracted the resources of RedFish Capital Debt. BonelliErede assisted Finint while RedFish Capital Debt received support from Grimaldi Alliance and Annunziata & Conso. Marullo is a food company and issued a 6-years bond of 2 million in support of its working capital. Movinter, a subsidiary of Rfltc that produces railways components, carried on a 7-years issuance worth 5 million for its organic growth and m&a. Rftlc-Inox, an investment vehicle of Rfltc that owns 20% Expo’ Inox (industrial components) issued a 6-years bond worth 5 million for financing its growth in the UK. Alberto Nobili, executive director, is the head of Investment Banking Corporate of Banca Finint.
Autorità portuale di Sistema del Mar Tirreno Centrale, the manager of Naples and Salerno ports, received an advance payment bond of 36 million euros from Banco BPM and Unicredit while SACE provided a warranty (see here a previous post by BeBeez). RCM Costruzioni, an Italian contractor that is part of Gruppo Rainone, won the 220 million tender for the ports renovation and will start the project development. Gruppo Rainone belongs to Elio Rainone (24%), Eugenio Rainone (23%), Valeria Rainone (23%), and Annamaria Fezza (30%).
Gruppo Renco, an Italian general contractor, received a 10 million euros and 48 months tenure financing facility from Cherry Bank with the warranty of SACE Futuro for 70% of the value (see here a previous post by BeBeez). The company will invest such proceeds in its working capital and the development of projects that are already part of the orders book. Renco belongs to the Gasparini Family and has sales of 582.1 million, an ebitda of 70 million and a net financial debt of 103.6 million.
Urban Vision, a provider of smart city solutions, issued a 7.4 million euros Milan-listed bond that Ver Capital subscribed (see here a previous post by BeBeez). The bond yields 6.25% + 6MEuribor and will mature on 31 December 2029. C&G Capital assisted Urban Vision while Legance advised Ver Capital. The company will invest such proceeds in its organic development. Urban Vision has sales of 59.3 million euros, an ebitda of 11.8 million, a net financial debt of 3.2 million, and equity of minus 1.5 million. Fabio Mazzoni is the chairman and ceo of Urban Vision.
Sienna Investment Managers received from Banca d’Italia the authorization for starting its direct lending activity compliant with the Article 9 of SFDR (see here a previous post by BeBeez). Lexia advised Sienna that will also launch Sienna Sustainable Infra Debt III, an Eltif that will provide private debt facilities for sustainable infrastructures and that set a fundraising target of 500 million euros. The firm will also launch F2E, a vehicle that Sienna AM France will manage.
