Banca per il Trentino-Alto Adige, Cassa Rurale Alta Valsugana, Cassa Rurale Valsugana e Tesino, and Banca Prealpi SanBiagio (part of Gruppo Cassa Centrale) will provide Italian packaging company Vetri Speciali with a 25 million euros financing facility (warranty of SACE – Garanzia Futuro) (see here a previous post by BeBeez). Vetri Speciali equally belongs to O-I Italy (part of Owens-Illinois) and Milan-listed Zignago Vetro and will invest such proceeds in its organic growth. The company has sales of 328.6 million, an ebitda of 115.5 million and net cash of 22.3 million.
Sitcar Mobility Vehicles, a subsidiary of Sira Industrie, received from UniCredit a financing facility of 2 million euros with a tenure of 8 years (80% warranty of Garanzia Green di SACE) (see here a previous post by BeBeez). The company will invest such resources in its green vehicles fleer. Sitcar Mobility Vehicles expects to generate sales of 80 million. Sira Industrie has a turnover of 151 million.
Alba Leasing carried on a securitization for a performing credit portfolio worth 833.73 million euros through Alba 14 spv (see here a previous post by BeBeez). Banca Akros (Gruppo Banco BPM) and Intesa Sanpaolo – IMI acted as joint arrangers and joint lead managers while BNP Paribas Securities Services acted as paying agent and account bank. Legance assisted the joint arrangers and joint lead managers. Jones Day advised Alba Leasing. Banca Finint acted as back-up servicer, calculation agent, corporate servicer, and representative of the noteholders and set up Alba 14 spv which issued three tranches of asset backed notes: 550 million senior Class A (rating Aa3 from Moody’s and AAA from DBRS, coupon of 3M Euribor plus 82 bps and par value issuance); 175.1 million mezzanine Class B (rating Ba1 and A), and 115.6 million junior. The Class A and Class B notes benefit of a credit enhancement out of an over-collateralization of the portfolio and have a further cash reserve for covering interest charges and expenses. The senior and mezzanine notes are listed on Milan market. Stefano Rossi is the ceo of Alba Leasing which acquired the mezzanine and junior notes.
Italian contractor CRS Impianti e Costruzioni‘s subsidiary CRS Impianti México received two advance payment bonds and a warranty bond worth a total of 9.5 million US Dollars (8.7 million euros) from Deutsche Bank (50% warranty of SACE) (see here a previous post by BeBeez). Stefano Civettini is the ceo of CRS.
Milan-listed Azimut said it reached a first closing of 126 million euros of commitments for Azimut Diversified Corporate Credit ESG (ADCC) after having previously attracted 30 million from InvestEU, a programme of the European Investment Fund (EIF) (see here a previous post by BeBeez). ADCC attracted a 70 million commitment from Cassa Depositi e Prestiti. In March 2023, Francesca Bartoli, the Head of Economic Analysis at Azimut Direct, said to BeBeez that the firm was going to launch such a vehicle for investing in minibond and direct lending with a fundraising target of 250 – 500 million. The fund will support Italian SMEs with business plans compliant with the Article 8 of EU Sustainable Finance Disclosure Regulation (SFDR). Giorgio Medda is the ceo of Azimut Holding.
Merito, an investor in private debt for Italian SMEs, said it raised 114 million euro in commitments for Merito Private Debt (MPD) which previously attracted 74 million from FII PD Italia Due and FOF PDI (which has Fondo Italiano di Investimento and the European Investment Fund as cornerstone investors) (see here a previous post by BeBeez). MPD also attracted the resources of further institutional investors. Merito recently hired Fabio Minervini (partner), investment managers Ludovica Marzocchi and Niccolò Tanini, and finance manager Luca Algisi. Roberto Capretti is an independent investment advisor. MPD is compliant compliant with the Article 8 of EU Sustainable Finance Disclosure Regulation (SFDR) and with the PIR regulation. The fund already carried out 12 investments in which poured 60% of its commitment resources ahead of two further deals.
Finint Investments said it reached the first closing for its private debt fund PMI Italia which raised 90 million euros in commitments from the European Investment Fund (EIF) and CDP (cornerstone investors with 30 million each), Banca Finint and further firms (see here a previous post by BeBeez). Mauro Sbroggiò is the ceo of Finint Investments. Alessandro Tappi is the cio of EIF while Andrea Nuzzi is CDP’s Head of Corporate and Financial Institutions.
