Milan-listed Immobiliare Grande Distribuzione Siiq (Igd) attracted 615 million euros of secured financing facilities from Intesa SanPaolo, Banca Monte dei Paschi di Siena, Banco BPM, BNL BNP Paribas, BPER, CDP, Deutsche Bank, and UniCredit for extending the maturity of its liabilities (see here a previous post by BeBeez). Coop Alleanza 3.0 (fka Coop Adriatica) and Unicoop Tirreno created Igd was born in 2000. The company will invest such proceeds in refinancing secured and unsecured debts for a total of 298 million and repaying bonds of 288 million. The lenders provided Igd with three facilitie: A (285 million – 5 years), B (315 million – 7 years) and C (15 million, revolving – up to 3 years). Roberto Zoia, the company’s ceo and coo, said that once paid the bonds, the shareholders may receive a dividend.
Toyota Financial Services Italia (TFSI) carried on the Koromo Italy II, a 620 million euros worth securitization of a portfolio of loans for purchasing eco-friendly cars (see here a previous post by BeBeez). The Koromo Italy spv issued and listed on Milan market senior notes of 555.272 million with a rating Aa3 of Moody’s and AA of Fitch and an unrated junior tranche of 68.7 million that TFSI acquired. A&O Shearman, Citigroup and BNP Paribas assisted the company while Zenith Global (part of Arrow Global) acted as servicer.
Italian MIMIT (Ministry of Made in Italy) said that well known troubled Italian luxury lingerie brand La Perla attracted 16 non-binding offers for all the company’s assets (see here a previous post by BeBeez). Since the firm received more offers than expected, the commissioners Francesco Paolo Bello, Francesca Pace and Gianluca Giorgi asked the MIMIT to extend the deadline for tabling bids.
Solution Bank provided Italian real estate developer Figura11, part of Cordifin, with a 10 million euros worth mortgage credit facility with Sace warranty for supporting the construction of a Novara-based building on an over 54000 sqms area (see here a previous post by BeBeez). Angelo Cordioli, chairman, and Marco Vittorio Perego, ceo, head Figura 11 which also acts as property, facility and commercial manager for Fondo Club Deal, a vehicle that DeA Capital Real Estate manages. The company has sales of 123.3 million, an ebitda of 28.5 million and net debts of 25.3 million.
Candriam, a global multi-asset manager for sustainabel and responsible investments that has resources worth 149 billion euros, and private capital firm Kartesia said they launched a Luxembourg-based Eltif for granting retail and private investors access to European lower mid-market private debt opportunities and supporting local communities (see here a previous post by BeBeez). Once the firms have completed the necessary filing procedures, the fund will be available in Italy, Austria, Belgium, Denmark, Finland, France, Germany, the Netherlands, Portugal, Spain, and Sweden. The product will allow to invest in the European companies of the lower mid-market segment that are facing limited financing options. The asset managers will diversify the loan portfolio across sectors and geographies while incorporating a sustainable approach. This allows for more careful deal selection, better downside protection and better risk-adjusted returns. Kartesia and Candriam belong to US asset management giant New York Life Investment Management. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Kartesia and its Italian portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager.
Italian law firm Rucellai & Raffaelli appointed Ottavia Raffaelli as partner for the IP and antitrust practice (see here a previous post by BeBeez). Michele Franzosi will co-head the firm’s IP department.
