Banca Progetto, the troubled Italian firm that belongs to Oaktree Capital Management and that the Banca d’Italia put under surveillance on 18 March, Tuesday, needs a capital increase of 100 million euros (see here a previous post by BeBeez). Centerbridge Partners suspended the asset’s acquisition. Lodovico Mazzolin and Livia Casale, the commissioners that are supervising the bank, asked Oaktree to inject capital in Banca Progetto which did not meet the Basilea 3 requirement for a 3% leverage ratio and cannot access the ELA – Emergency Liquidity Assistance which allows the central bank to provide extraordinary funding to solvent financial institutions in temporary liquidity crisis. As BeBeez reported in March, Banca Progetto has not yet released its 2024 financials. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Oaktree Capital Management and its 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
A pool of lenders that is part of Centrale Banca Credito Cooperativo Italiano securitized three portfolios of NPEs with a a face value in the region of 130 million euros that have the warranty of MCC (see here a previous post by BeBeez). Two undisclosed institutional investors acquired the notes. Chiomenti assisted the banks. Axis, part of Spain’s Hipoges, advised the investors.
Milan-listed Generalfinance, a factoring provider for companies in special situations that Massimo Gianolli heads, carried on the private placement of a 50 million euros unsecured senior bond maturing in April 2028 with a 5.5% coupon (see here a previous post by BeBeez). Equita, Ceresio Investors and Legance advised Generalfinance while Bank of New York Mellon will act as Paying Agent and Account Bank.
