Download here the BeBeez Private Debt Report 2024 available for the subscribers to BeBeez News Premium and BeBeez Private Data.
Inter Media & Communication, a subsidiary of Oaktree’s iconic Italian football team Inter, repaid 392.9 million euros that were part of a 415 million euros bond issued in 2022 with 2027 maturity (see here the notes of Inter board meeting of 14 June, Saturday, available for the subscribers to BeBeez News Premium and BeBeez Private Data) (see here a previous post by BeBeez). The Italian team refinanced such a liability through the private placement of a 4.52% fixed rate 350 million callable bond whose repayment will take place at maturity, on 24 June 2030. Bofa Securities acted as placement agent, White & Case and PedersoliGattai assisted Inter Media & Communication. Legance advised the undisclosed investors in the bond. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Oaktree 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.
Cherry Bank carried on a securitization of a portfolio of SMEs credits worth in the region of 375 million euros through the spv Cherry Horizon (see here a previous post by BeBeez). The bank will subscribe the junior tranche while JPMorgan will purchase senior notes for 260 – 400 million. The transaction will not have any derecognition on Cherry Bank’s accounts. Such securitization has a three-year revolving structure, and both the investors can call off the deal with a 12 months’ notice. Raffaella Tessari is the cfo of Cherry Bank. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Cherry Bank and its investments. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Banca Popolare di Sondrio (BPS) securitized a portfolio of NPLs and UTPs with a face value of 197.6 million euros through Platinum SPV which issued senior, mezzanine and junior abs notes (see here a previous post by BeBeez). BPS purchased the senior notes and the mezzanine tranche with Clessidra Capital Credit while FBS acted as junior investor. FBS belongs to BPS and Clessidra. KPMG Advisory, Intesa Sanpaolo, Banca Finint, and Cappelli Riolo Calderaro Crisostomo Del Din & Partners assisted BPS. Clessidra retained PedersoliGattai. FBS hired LCA Studio Legale.
Caffitaly System, a portfolio company of Alpha (37%) and CNP-Compagnie Nationale à Portefeuille (Frère Family – 52%) filed with Bologna Court a debt restructuring agreement that may close in the next weeks (see here the press release and the filed appeal for the restructuring agreement available for the subscribers to BeBeez News Premium and BeBeez Private Data) (see here a previous post by BeBeez). Minority shareholders have 11% of Caffitaly which previously signed a standstill agreement until 15 April 2024 for a moratorium moratorium on the payment of a 10 million euros interest rate matured on 31 December 2023.
Daniele Radi Temelini acquired back 60% of Italian high-end furniture company Pedini from China’s player Hua Wei Mei Lin Holdings Group that purchased the firm in 2020 (see here a previous post by BeBeez). Radi Temelini said to BeBeez that Hua Wei Mei Lin Holdings Group did not respect the terms of the agreement for implementing development strategies, therefore he decided to invest his personal resources in acquiring back Pedini which has sales of 12 million euros and set a target of 15 million. Read here the BeBeez interviews with Italian manaagers and entrepreneurs.
Tivoli Group and Greenwill sold London’s producer of luxury leather goods Smythson of Bond Street to Oakley Capital for 15 million GBPs (see here a previous post by BeBeez). Smythson has sales of 28.47 million and losses of 6.69 million. Stefano Giacomelli is the ceo of Tivoli Group and vice chairman of Smythson for which Paolo Porta acts as ceo. Peter Dubens is Oakley Capital’s co-founder and ceo. In 2009, Tivoli paid 18 millio for acquiring Smythson from Kelso Place Asset Management and Venrex Investment Management which purchased the asset in 2005 for 16 million. Smythson will join Oakley platform company Iconic BrandCo. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Oakley Capital 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
Banca d’Italia authorized Banco Desio, Banca di Asti and Sparkasse – Cassa di Risparmio di Bolzano to used its AIRB (Advanced Internal Rating-Based) for credit risk assessment as part of the first Italian pooled data project that Cedacri and MBS, part of Cerved, support (see here a previous post by BeBeez). Cerved belongs to ION, a firm that Andrea Pignataro created. FSI has a minority of Cedacri which has a turnover of 506.4 million euros, an ebitda of 194 million and a net financial debt of 486.3 million (see here the 2024 financials of the company available for the subscribers to BeBeez News Premium and BeBeez Private Data).
French Almaviva Santé acquired troubled Italian elderly care home Casa di Cura Villa Letizia and its parent company Villa Dorotea from Enrico Vittorini (see here a previous post by BeBeez). BonelliErede and Transaction Services – beLab assisted the buyer.
