Arsenale, a real estate development firm that Paolo Barletta and Nicola Bulgari founded in 2020 for investing in the sector of Italian tourism, received a 300 million euros equity and debt facility from Oaktree Capital Management (see here a previous post by BeBeez). Barletta and Bulgari will keep a controlling stake of Arsenale whose current investments are worth 370 millions.
On 11 March, Friday, Stefania Peveraro, the Editor in Chief of BeBeez, will moderate the panels of an event of Generalfinance about turnaround factoring that will be possible to join in streaming tv or in presence. Click here for further information and sign in for the event (see here a previous post by BeBeez) Massimo Gianolli is the ceo of Generalfinance.
Luca Longaretti, the ceo of Italian food producer Paluani, said that the company received an expression of interest from an undisclosed Italian trade buyer (see here a previous post by BeBeez). Paluani is in receivership since October 2021 and has short term debts of 32 million euros with Factor Coop (5 million), Banco BPM (4.25 million), MPS (4 million), Unicredit (2.6 million), Intesa Sanpaolo (2.5 million), Banca Valsabbina, BPER, Caribolzano, Carige, Cerea Banca, Credit Agricole, and Credito Valtellinese.
Clessidra Restructuring Fund and Magnetar acquired 80% of Acque Minerali d’Italia (AMI), the owner of mineral water brands Norda, Sangemini and Gaudianello, (See here a previous post by BeBeez). The Pessina Family (now 20% owner) sold a controlling stake in AMI, who is in receivership, to the funds that subscribed a capital increase of 50 million euros. In September 2021, AMI’s creditors accepted the receivership proposal of the company. The funds appointed Alessandro Frondella as coo and Matteo Siani as cfo. Clessidra and Magnetar are going to increase the companies sales to supermarkets chains and Horeca players. Clessidra will acquire the unsecured credits of Banca Mps and BPER Banca with AMI and convert in equity up to 10% of their face value (up to 0.750 million). Clessidra subscribed the capital increase in cash for 15 million euros minus the acquired credits and purchased a 24% of AMI. Magnetar invested 35 million in the capital increase for a 56% stake in the company. Secured creditors will get a total repayment. Invitalia will reschedule the refund of its 15.8 million credits. AMI will repay 64.4 million (55 million with banks) out of its total liabilities of 187.5 million.
Scarpe & Scarpe, an Italian retail chain in receivership since June 2021, will meet its creditors on 28 February, Monday, for sharing with them a stand-alone business plan (see here a previous post by BeBeez). Pillarstone Italy is the main creditor of the company and of the competitor Pittarsosso (which is in receivership as well). Previous press reports said that Pillarston is keen on merging the two companies as part of their debt restructuring. The Pettenuzzo family is the controlling shareholder of Scarpe&Scarpe. The company’s restructuring proposal includes the full repayment of secured debts, a transactional payment to the Inland Revenue. Unsecured creditors will receive 16% of their dues in 6 biannual instalments from January 2024 with a further 4% earnout on the ground of the business performance in the last year of the plan. The Pettenuzzo Family will sell personal assets and pay a further 2%.
FAB, an Italian producer of furniture components, received a 15 million euros loan from Anthilia Eltif Economia Reale Italia, Anthilia BIT and 8A+ Real Italy Eltif (see here a previous post by BeBeez). The first tranche of the facility is worth 5 million and will mature in December 2027. The second one will mature in September 2028 and amounts to 10 million (25% at the closing and 75% six months later). FAB received 2 million from 8A+ Real Italy Eltif and the remaining amount from Anthilia’s vehicles. FAB belongs to the Sperandii Family and has sales of 115 million. The company will invest such proceeds in the investments of its 2022-2025 business plan.
Perrella Distribuzione, a food distributor for the Horeca sector, issued a sustainability-linked floating rated 6-years minibond of 1.6 million euros that Unicredit subscribed (see here a previous post by BeBeez). Perrella will pay a lower coupon upon the achievement of ESG targets that EcoVadis will audit. Perrella has sales of 20 million and will allocate the raised proceeds for its 2022-2026 investments and organic growth.
Syneos, the mother company of Ergon, a consortium that owns the supermarket chains Despar, Altasfera and ARD Discount, issued a 6-years minibond of 2.5 million euros that UniCredit subscribed (see here a previous post by BeBeez). Syneos will invest the raised proceeds in its organic development and the implementation of ESG strategies. Syneos has sales of 608.9 million, equity of 46.8 milllion and an ebitda of 16.9 million. The company appointed Alberto Cavalieri, Luigi Di Quattro and Ugo Sgarioto as board members and Francesco Gambino as independent director. Gianni Cavalieri and Emanuele Sgarioto are the company’s ceo and vice-ceo. Further directors are Antonio Cioffi, Massimiliano Cioffi, Giovanni Iacono, and Salvatore Iacono while Clara Cavalieri is the cfo of Ergon. The issuance of Syneos is part of UniCredit’s programme Bond Food Mezzogiorno (BFM) aimed at supporting agrifood companies based in the South of Italy for the achievement of ESG targets. The firms that already joind this programme are: Basso Fedele e Figli, IBG, Moak, Cantine Ermes, Caseificio Palazzo, Gustibus Alimentari, Pastificio De Martino, Mangimi Leone, Almeda, Leone Group, Società Agricola Garofalo, and Bibite Polara. As previously reported, sources said to BeBeez that Unicredit hasn’t set a rigid amount of resources for the BFM programme.
Banca Valsabbina and Credit Service launched Invoice Be-Tech for investing up to 50 million euros for cashing invoices of SMEs based in Brescia area (see here a previous post by BeBeez). Cardo AI will act as data manager, Centrotrenta Servicing as servicer/calculation agent and corporate servicer, while Banca Finint will act as paying agent and representative of bondholders.
Aleph, an Italian digital printing company, received a 1 million euros 5-years loan from Unicredit for which Mediocredito Centrale provided a warranty through the Fondo di garanzia per le Pmi of the Italian Ministry for the Economic Development (see here a previous post by BeBeez). The facility is part of Unicredit’s programme Futuro Sostenibile for incentivizing the implementation of ESG strategies. Aleph will pay a lower interest rate upon the achievement of sustainability targets. In 2017, Wise Equity acquired a controlling stake of the business who has sales of 8.7 million euros, an ebitda of 0.538 million and net cash of 1.9 million
Basket bond programme Garanzia Campania Bond allowed 65 SMEs based in the Southern Italian region to raise a total of 144 million euros (see here a previous post by BeBeez). Banca Finint is the arranger of the programme and subscribed minibonds of the basket for which Campania Region provided a 25% warranty (37 million – 24.35 million already invested). Cdp and Banca del Mezzogiorno – MCC purchased the minibonds through the even subscription of abs. The companies that joined the programme are Mare Engineering, Bourelly Health Servic, J Luxury Group, Farmacia S. Caterina, T.E.A. Tek, Finizio, Villa Fiorita, Ekoru, Logi Service Società cooperativa, Assopaf Agroindustria Alimentare Società cooperativa Agricola, Milano Fashion
Ecoambiente, an Italian waste management company, received a 9-years financing facility of 22 million from Cassa Centrale Banca, Banca del Veneto Centrale, Banca Adria Colli Euganei, Banca Popolare Etica ,Cassa Centrale Raiffeisen dell’Alto Adige, and Banca di Cividale (See here a previous post by BeBeez). Ecoambiente is born in 2012 out of the merger of ASM Ambiente with Ecogest and belongs to the municipalities of Rovigo area. Ecoambiente has sales of 44.2 million euros, an ebitda of 7.4 million and net cash of 3.6 million. The company will invest the raised proceeds in its organic growth.
Feralpi Siderurgica, an Italian steel producer, received a green loan of 100 million euros from a pool of banks (See here a previous post by BeBeez). The company will invest the proceeds in the investment for the sustainability transition that scheduled for 2021 – 2025. In October 2021, Feralpi’s ceo Giovanni Pasini said that the company was going to invest 100 million for generating 100 MW of energy out of renewable energy (20% of the firm’s energy requirements in Italy).
Italian publisher Gruppo Feltrinelli refinanced its debt with Intesa Sanpaolo, Banca Nazionale del Lavoro, Banco BPM, and Creval (See here a previous post by BeBeez). The company will invest the proceeds of such refinancing in the implementation of a digitalization strategy. Feltrinelli has sales of 426.9 million euros, an ebitda of 3,3 million, net losses of 17.7 million, and a net financial debt of 17.9 million
Alternative Capital Partners (Acp), an asset manager with an ESG attitude, appointed Piero Atella and Federico Favretto as partners (see here a previous post by BeBeez). Mr. Atella will head the infrastructures unit of Acp work as fund manager and ESG manager for the firm’s Sustainable Securities Fund (SSF). Atella previously worked or Equitix, Equiter (part of Intesa SanPaolo), and Banco di Napoli. Favretto will be the head of private debt at Acp and investment director of SSF. Favretto works at Acp since July 2021 as manager of the SMes Alternative Credit Fund (SMAC), a vehicle for ESG investments in the Supply Chain Finance for MSMEs.
