Download here the 2025 BeBeez Private Debt Report available for the subscribers to BeBeez News Premium and BeBeez Private Data.
Italian fashion firm Valentino issued a 450 million euros senior secured bond maturing in 2033 with a coupon of 6M euribor plus a 3% annual spread for refinancing its debt and supporting its investment strategy and working capital (see here a previous post by BeBeez). On 19 June, Friday, the board of directors said that the company will issue the bond by the end of August 2026 (see here the meeting notes and the 2025 financials available for the subscribers to BeBeez News Premium and BeBeez Private Data). The placement price will be 98.8957% of the face value. HSBC Continental Europe or another subsidiary will purchase the bond and switch it to an Irish company. Banca Finanziaria Internazionale will be the joint representative of the bondholders. The pledge on the bond consists in a charge on the balance of a current account held for the purpose of servicing the debt, opened with an entity within the HSBC Group, and direct guarantees that the subsidiaries Valentino USA and Valentino Japan. Furthermore, the company’s shareholders committed to pour up to 250 million in case of troubles with covenants and debt repayment. Valentino belongs to Mayhoola for Investments (70%), an investment holding of Mozah bint Nasser Al Missned (the wife of Qatar Sheikh Hamad bin Khalifa Al Thani) and French luxury giant Kering (30%). BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Valentino, Mayhoola and their 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
NextEnergy Capital attracted a 93 million euros project financing facility from UniCredit for the development of a 73.5 MW agrivoltaic plant in Naples area (see here a previous post by BeBeez). NextEnergy retained L&B Partners
RYZE (fka Yard Reaas), a real estate advisory and property management firm that belongs to AnaCap since April 2024, signed an agreement for acquiring Spain’s competitor Krata Sociedad de Tasación upon receiving the authorization of Banco de España (see here a previous post by BeBeez). RYZE reportedly signed a partnership with Paris-listed Tikehau Capital that will provide acquisition financing facilities. BeBeez data say that RYZE directors decided to issue a non-convertible secured PIK bond worth up to 80 million euros and maturing in 2033 (see here the meeting notes available for the subscribers to BeBeez News Premium and BeBeez Private Data). The at par issued bond pays a coupon amounting to the Euribor rate plus an initial margin of 5.25%, which may fluctuate between 4.75% and 6% depending on the company’s level of net leverage. A pledge over RYZE’s shares that parent company Axe Bidco provide, assignments of intra-group receivables, and a pledge over the relevant securities account that may add following the dematerialisation of the shares are the collateral for the bonds. Banca Finanziaria Internazionale acts as the bondholders’ representative, Aether Financial Services as guarantees representative. Ryze will also invest part of such proceeds in refinancing its liabilities. Iñigo Amiano Bergara, partner & chairman, and ceo Javier Anaya Mohino will keep leading Krata that will pursue further buys in the Iberia region. Emanuele Bellani, Paolo Datti and Paolo Perrella head Ryze. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors AnaCap, Tikehau Capitaland their 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
MFO, the Marra’s family office, raised 46.5 million euros through a securitization for financing the Boutique Hotel Grand Collection Project that aims to develop a portfolio of luxury assets in Italy (see here a previous post by BeBeez). Alfonso Marra is the chairman of MFO while Mario Marra is the head of investments. SPV Real Estate issued senior notes for 20 million and Banca Valsabbina acquired them. MFO acquired the 26.5 million mezzanine (paying a fixed rate of 8.6%) and junior tranches. SPV Real Estate already invested the raised proceeds in acquiring a building in Genoa’s Via Gabriele Rossetti. Osborne Clarke acted as deal advisor. Studio Palmeri is the bondholders’ representative. Banca Valsabbina retained A&O Shearman. Hermes Bianchetti is the deputy coo of Banca Valsabbina. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Banca Valsabbina 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
Vexuvo, an Italian alternative energy player, attracted a 39.3 million euros project financing facility from UniCredit in support of the development of agrivoltaici plants based in Apulia, Calabry and Veneto with a total power of 33 MW (see here a previous post by BeBeez). Vexuvo belongs to Filippo Fontana (coo – 25%) and Andrea Cristini (ceo – 75%). Ferdinando Natali is UniCredit’s Regional Manager for the South of Italy. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Vexuvo. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
BKNO, a franchisee of Burger King restaurants in the North of Italy, will issue PIK bonds of 33.6 million euros maturing on 30 June 2031 (see here the 18 June, Thursday, board meeting notes available for the subscribers to BeBeez News Premium and BeBeez Private Data and see here a previous post by BeBeez). BKNO may issue further bonds of up to 54.6 million as service of the PIK item that Cheyne European Strategic Value Credit Fund III Investments, Cheyne European Special Situations Fund Investments, and Lake Chelsea Investments will acquire. The investors may also provide a direct lending facility of 42 million. BKNO retained EY-Parthenon and studio BonelliErede. Chiomenti assisted the lenders. The company will invest the raised proceeds in opening new restaurants and repaying a 6 million floating rate bond that issued in 2023 and maturing in 2028. Anthilia Capital Partners acquired the facility. The new bonds are multi-tranched and the first issuance amounted to 17.6 million. Subsequently, BKNO may issue the other tranches no later than the first interest payment date, i.e. 24 months after the first issuance. The bonds, that have a 97% placement price, pay a coupon equal to the Euribor rate with a floor of 2%, plus a spread of 5% and a further component of 5.5% per annum, payable quarterly in arrears. The issuer may defer payment for six months and subsequently capitalise part of the accrued interest by issuing further bonds (the PIK component), which will be added to the outstanding principal and will in turn accrue interest. BKNO provided the following warranties: a first-ranking charge on the issuer shares that belong to Blooming; a charge on some bank current accounts; a non-possessory pledge on equipment and furnishings. Banca Finint is the joint representative of the bondholders and acts as the security agent. BKNO belongs to Blooming, a firm of ceo Davide Canavesio (49.65%), Marco Monetti and Stefano Monetti (15.36%), Maurizio Cimmino (11.68%), Marco Gay (5.52%), and further minority shareholders.
Vezzani placed a Milan – listed 5 million euros bond maturing in 2032 and with a yield of 6M Euribor plus 230 basis points (see here a previous post by BeBeez). In 2025, Vezzani placed a Milan – listed 5 million euros bond maturing in 2031 and with a yield of 6M Euribor plus 290 basis points. SACE and MCC provided a warranty for both bonds that BPER and Banco di Desio e della Brianza acquired. BPER Corporate & Investment Banking acted as arranger and listing sponsor, Hogan Lovells as deal counsel and GLAS as issuing and calculation agent. The raised proceeds will finance the investment programme in the Marghera port area, where Vezzani, a company of Stefano Gavioli for which Andrea Bonifacio acts as cfo, aims to upgrade the infrastructure and develop new operational activities, with a view to consolidating its role as a logistics and industrial hub in the north-east. Daniele Moscato is the Head of Corporate Finance of BPER Corporate & Investment Banking.
