Save the date. On 9 October, Wednesday, at 11 a.m. Unicredit will offer Il Caffé di BeBeez at Four Seasons’ Hotel Milano to talk about minibonds and guaranteed basket bonds (see here a previous post by BeBeez).
Central Sicaf received a 290 million euro loan from BNP Paribas, Crédit Agricole CIB, Natixis CIB, Crédit Agricole Italia, BPER Banca, Banca Popolare di Sondrio, and Banco di Sardegna (see here a previous post by BeBeez). BonelliErede advised Central SICAF, while Legance assisted the banks. Central Sicaf manages assets of about 1 billion that belongs to Covivio (51 % – the Del Vecchio family’s Paris-listed real estate investment vehicle), Paris-listed energy company EDF (24.5 %) and Predica (24.5 % – part of Crédit Agricole).
Favini, an Italian specialty paper manufacturer that belongs to Fortress Investment Group since 2018, received a 75 million euros sustainability linked loan from UniCredit, BNL BNP Paribas, Cassa Depositi e Prestiti, and Sparkasse (see here a previous post by BeBeez). The company will pay lower interest on the loan if it achieves specific ESG targets. Eugenio Eger is the managing director of Favini that will invest such resources in support of its 2024-2029 business plan.
On July 18, Thursday, Cassa Depositi e Prestiti placed a digital bond with a face value of 25 million euros on the Polygon blockchain that Intesa SanPaolo subscribed (see here a previous post by BeBeez). The bond matures on November 18, pays a fixed maturity coupon of 3.633 % on an annual basis, that Moody’s, Fitch, and Scope respectively rated A-2, F-2, and S-2. Clifford Chance advised CDP while A&O Shearman assisted Intesa Sanpaolo. CDP and Intesa Sanpaolo acted as Market Participant for this issue, which the Bank of Italy selected and ECB as part of the “Exploratory work on new technologies for wholesale central bank money settlement” initiative.
Imi Fabi, a company active in the mining, processing, and marketing of talc, received a 13 million euros loan from Crédit Agricole Italia (see here a previous post by BeBeez). The company will invest these resources in strengthening its operations in South America and in its organic growth. CEO Corrado Fabi holds 71.42 % of Imi Fabi which has revenues of nearly 180 million, 36 million in ebitda and a net financial debt of 115.4 million.
Aran Cucine, an Italian kitchen manufacturer that Renzo Rastelli owns, cashed in a 9 million euros eight-year loan from Unicredit with a guarantee from SACE (see here a previous post by BeBeez). Aran Cucine received support from Cap Advisory. Aran has revenues in the region of 90 million, 2.6 million in ebitda and a net financial debt of 17.2 million. Aran will invest such proceeds in opening flagship stores in Italy and the United States and additional franchise stores in France.
Antica Cuoieria Grg issued a 3 million euros minibond for financing its organic growth. The bond that Unicredit and Mediocredito Centrale subscribed has a term of 72 months is part of the Made in Italy Basket Bond programme (see here a previous post by BeBeez). Giordano Gattafoni is the ceo of Antica Cuoieria Ggr. The other companies that have joined the Made in Italy program are B. For Pet srl Società Benefit (2 million minibond); Noleggio Energia (2 million), MAGIC MP (3.5 million); CEP Europe (2 million); CrippaCamping (3.75 million); Fanfani (2.3 million); Cida (2 million) and Alto Lago (2.5 million).
OVS, a Milan-listed clothing store chain of which Tamburi Investment Partners (TIP) owns 28.44 %, signed a convertible bond for acquiring a 3 % of Goldenpoint for 3 million euros (see here a previous post by BeBeez). The agreement also calls for OVS to increase to 51 % of Goldenpoint by 31 July 2025 through conversion and the exercise of a subsequent call option. OVS maye exercise of put-and-call options between 1 August 2026 and 31 July 2029 for acquiring the remaining 49% of Goldenpoint. OVS will finance such a transaction that includes a floor agreement with its own cash flow.
Paolo Frugis joined the team of Phinance Partners, a specialist in structured credit and private debt for institutional investors, as senior advisor (see here a previous post by BeBeez). Frugis previously worked for UniCredit, HSBC, Bank of America Merrill Lynch, Deutsche Bank and RBS Milan.
