AC Milan is mulling for refinancing the vendor loan of 550 – 600 million euros that RedBird Capital received in August 2022 from Elliott Management which sold the asset for 1.2 billion (see here a previous post by BeBeez). Jerry Cardinale, the founder of RedBird Capital, is holding talks with Investcorp.
Banca Progetto, a challenger bank for SMEs and private clients that belongs to Oaktree Capital Management since 2015, carried on a securitization of a 500 million euros worth portfollio of corporate credits through the spv Progetto PMI 6 (see here a previous post by BeBeez). Banca Progetto has the right to sell further credits by 31 December 2025. Citi provided a senior debt facility of 400 million and subscribed to the 104 millon junior notes that the spv issued. Banca Progetto retained Chiomenti Studio Legale as drafting legal counsel. Paolo Fiorentino is the ceo of Banca Progetto.
ReLife Group, an Italian waste management company that belongs to F2i, Xenon Private Equity and the management, attracted an up to 340 million euros five-years green financing for which SACE provided a warranty for 80% (see here a previous post by BeBeez). The company will invest a 224 million tranche for refinancing its current liabilitiy, more than 100 million in M&A and allocate 15 million in its cash reserves. This sustainability linked loan will lower its interest charges upon the achievement of esg targets. Banca MPS, BNL, BBVA-Milan Branch, Banco BPM, BNP Paribas, BPER Banca, CDP, Crédit Agricole Italia, and ING Bank-Milan Branch provided such resources. Corrado Levo and Antonio Meli are ReLife Group’s cfo and legal counsel. Arcus Financial Advisors and Chiomenti assisted the borrower, while Legance advised the lenders and SACE. ReLife will invest part of these proceeds in financing the acquisition of Scatolificio Deles and Ondulati Menegazzi.
On 1 December, Friday, Energy Dome, an Italian startup that developed a high-energy efficiency battery based on the termodynamic cycle and the use of CO2, said it raised 60 million euros for manufacturing its products (see here a previous post by BeBeez). The company received a grant commitment of 35 million from Breakthrough Energy Catalyst and a venture debt facility of 25 million from the European Investment Bank. Claudio Spadacini founded Energy Dome in 2019.
FemoGas received a 33 million euros project financing facility from Banco BPM and Crédit Agricole (see here a previous post by BeBeez). The company will invest such proceeds in the development of renewable energies plants. Gattai Minoli&Partners assisted the lenders.
Italian olive oil producer Salov (Società Anonima Lucchese Olio e Vino) attracted a 10 million euros long-term financing facility from Crédit Agricole Italia for which SACE provided a 70% warranty (see here a previous post by BeBeez). The company will invest such proceeds in implementing ESG strategies, its organic growth and international expansion.
Gruppo Sailpost, an Italian mail company, received a 5 million euros financing facility through Azimut Direct, a fintech platform that liaises companies with lenders (see here a previous post by BeBeez). SupportItalia SACE provided a 60 months warranty. Sailpost will invest such proceeds in the cash for joining calls for tender. Valterio Castelli is the company’s chairman.
