Acqua&Sapone, the Italian retailer of hygiene products, issued a two-tranched senior secured bond of 850 million euros maturing in 2031 (see here a previous post by BeBeez). One bond amounts to 450 million with a floating coupon, and the other is worth 400 million with a 6.6%. The company will invest such proceeds in refinancing the facilities that borrowed from Barclays, Deutsche Bank, IMI-Intesa Sanpaolo, and UniCredit for supporting the 1.3 billion worth secondary buyout (6X adjusted ebitda) that TDR carried on for acquiring the asset from HIG Capital. Aqua&Sapone received a B2 corporate rating corporate and B2 for the bonds with stable outlook from Moody’s and B from S&P. Acqua&Sapone has sales of 1.15 billion, a reported ebitda of 122 million and a net financial debt of 325 million.
Sources said to BeBeez that Viveracqua, the consortium of all the water suppliers based in Veneto, placed a 200 million euros bond as part of the Hydrobond programme (see here a previous post by BeBeez). The companies that are part of Viveracqua will invest such proceeds in a 340 million infrastructure refurbishment. Viveracqua Hydrobond 2024 spv carried on the securitization of the bond and issue ABS notes maturing in 2042 and 2044. The placement attracted the resources of European Investment Bank (EIB -100 million) in the placement while SACE provided a warranty, Kommunalkredit Austria (50 million), CDP (35 million), and Volksbank-Banca Popolare dell’Alto Adige (15 million). Banca Finint acted as arranger and placement agent and retained Studio Legale Cappelli RCCD. Legance assisted EIB and CDP in chinese wall, while Kommunalkredit and SACE hired Studio Legale Cappelli RCCD. Studio Pirola Pennuto Zei also joined the advisors pool.
Libeccio, a special purpose vehicle that belongs to Fabbrica Energie Rinnovabili Alternative (FERA – 81.55%) and Byom (18.45%) attracted structured green loan facilites for project finance of 55 million euros from Natixis CIB and of 42 million from European Investment Bank (EIB) (see here a previous post by BeBeez). Dentons assisted the lenders. Legance advised Libeccio. BonelliErede acted as special counsel to EIB. Libeccio will invest such proceeds in refinancing a previous Aeolian energy project with 24 MW of power in Sicily and the development of a 44.8 MW plant.
Société Générale appointed Enrico Chiapparoli as Italy’s Country Head and supervisor of Global Banking and Investor Solutions for replacing Alessandro Gumier (see here a previous post by BeBeez). Chiapparoli will be in charge from 11 November, Monday, and report to Alvaro Huete, Deputy Head Global Banking and Advisory. Chiapparoli previously worked for Barclays, CMC Capital and BofA Merrill Lynch.
