Milan-listed vending machine producer IVS Group issued a listed bond of 300 million euros due to mature on 18 October 2026 (see here a previous post by BeBeez). The bond pays a 3% coupon. The company will invest the proceeds of such issuance in the repayment of a previous bond of 240 million that pays a 4.5% coupon and due to mature in 2022. IVS was listed back in 2012 thanks to the business combination with Italy 1 Investments sa, the first SPAC launched to buy an Italian target.
Italian supermarkets chain Gruppo Arena received a financing line of 49 million euros from Unicredit and Banco Bpm (see here a previous post by BeBeez). Unicredit Leasing will provide a further 14.6 million financing. Gruppo Arena will invest these resources in its organic development. The company has sales of 630 million.
Maschio Gaspardo, an Italian producer of machinery for agriculture, refinanced its 140 million euros debt with a pool of 21 banks (see here a previous post by BeBeez). The new agreement with the banks signed these days was expected from last June. In fact, in June, the agreement with 24 financing banks on a debt originally of about 240 million was expiring. That financing had allowed the relaunch of the group after a period of crisis. So last June, private equity funds had targeted Maschio Gaspardo, imagining that lending banks would have asked for a more significant capital increase than the 20 million euros capital increase already approved in December 2018 by Friulia and Veneto Sviluppo. Instead, that commitment was clearly enough.
The announced basket bond which brings together the short-term minibond issues of SMEs on the Veneto coast, owners of hotels and resorts, is currently under placement. The project, named Pluribond Veneto Turismo, includes issues by 16 SMEs and theplacement should be completed by the end of the month (see here a previous post by BeBeez). The project is the result of the cooperation between Confcommercio Veneto, Confturismo Veneto, Fidi Impresa and Turismo Veneto and Frigiolini & Partners Merchant, arranger. The bond will be issued for a total of 5 million euros, will mature in one year and pay a 2% coupon.
Frigiolini&Partners is the same arranger of another basket bond project that has just been launched and named Pluribond Winter Olympic. The project sill allow Italian SMEs that will supply products and services for the Winter Olympic Games that will take place in Milan and Cortina in 2026 to issue minibonds for a targeted total amount of 50 million euros launched Pluribond Winter Olympic (see here a previous post by BeBeez). All the bonds will benefit of a 100% guarantee by Fidi Impresa & Turismo Veneto, Ascomfidi Lombardia and FIN.PROMO.TER.
Italian cars repair company Car Clinic issued a 1 million euros minibond listed on Milan market (See here a previous post by BeBeez). Iccrea Banca Impresa entirely subscribed the issuance that pays a 3.25% coupon and will mature on May 2023. Car Clinic has sales of 41 million euros, an ebitda of 4.16 million and cash of 0.692 million.
V. Barbagli, an Italian producer of counters for the consumption of electric energy, water, and gas, issued a minibond of 2 million euros (See here a previous post by BeBeez). Sici (Sviluppo Imprese Centro Italia) entirely subscribed the bond that is due to mature in 5 years with a pre-amortising period of 6 months and a floating yield. The company will invest such proceeds in its organic development.
Meccanotecnica Umbra, a producer of industrial machinery, issued a minibond of 5 million euros that Unicredit entirely subscribed (See here a previous post by BeBeez). The bond is due to mature in 2026. Carlo Pacifici is the ceo of Meccanotecnica Umbra who has sales of 82 million.
Iniziative Biometano, an Italian energy company, issued a 3 million euros minibond (See here a previous post by BeBeez). Banco Tre Venezie and some undisclosed Italian family offices subscribed the issuance which is due to mature in 2025 and pays a 6% coupon.
MyCredit, an investor in Npls and Utps secured, issued semi-equity instruments worth 10 million euros (see here a previous post by BeBeez). The company will invest the proceeds of this issuance in the acquisition of secured Npls and the subscription of notes of spvs.
Davis & Morgan, an investor in NPLs, reopened the placement of its Milan-listed minibond maturing in April 2024 and paying a 7% coupon (see here a previous post by BeBeez). The bond was issued in May 2018 for a maximum of 10 million euros and was placed then for 4,85 millions. Press reports say that Davis & Morgan is also holding talks for selling a 5% stake to a new investor.
Luca Cosentino, Partner of the Financial Services practices at EY, said that Italian banks may sell 70 billion euros of NPLs for lowering to 5% their NPEs ratio (see here a previous post by BeBeez). Cosentino was speaking at Global NPL, an event of Smith Novak in London for which BeBeez has been a media partner.
Montepaschi could sell to AMCO (fka SGA) a portfolio of 10 billion euros of distressed credits (See here a previous post by BeBeez). The Italian Government is discussing the sale of its 68% stake in the bank.
Banca Ifis and Credito Fondiario deferred to the end of October the deadline for finalize their announced project for a platform for the management of distressed credits (see here a previous post by BeBeez). The banks however already said that they could sign a partnership just for the debt servicing and not for investing, as it was initially imagined.
Dea Capital Alternative Funds appointed Carlo Cameli, the former coo of Italian shipping company Fratelli d’Amico Armatori, as shipping advisor for the Corporate Credit Recovery fund for the Shipping sector (CCR Shipping) (see here a previous post by BeBeez). CCR Shipping invested 200 million Dollars in UTPs. The Insight View of BeBeez about the shipping sector is available for the subscribers to BeBeez News Premium. Find out here how to subscribe for just 20 euros per month.
