Sources said to BeBeez that BNP Paribas will act as senior investor in the VAT financing securitization programme that Milan-listed Banca Sistema launched in 2020 (see here a previous post by BeBeez). The bank will pour a 150 million euros worth facility with an initial tenure of 24 months. BonelliErede advised BNP Paribas. Gianluca Garbi and Ilaria Bennati are the ceo and cfo of Banca Sistema which received assistance from Jones Day.
Sources said to BeBeez that Italian luxury tailoring company Isaia, based in Naples, attracted a 56 million euros financing facility from Banco BPM, Deutsche Bank, Mediocredito Centrale, CDP-Cassa Depositi e Prestiti, and BNL BNP Paribas while SACE provided a warranty (see here a previous post by BeBeez). The sources added that Isaia will invest such proceeds in refinancing the covid-related liabilities but mainly for expanding in USA, West Europe and Dubai. Chiomenti assisted the lenders. Simmons&Simmons advised Isaia which has sales of 84.6 million euros, an ebitda in the region of 17.4 million and a net financial debt of 38.8 million.
GreenGo, an Italian developer of large renewable energy plants of which Eiffel Essentiel has a 14% stake, received a 32.6 million euros financing facility from Intesa SanPaolo (see here a previous post by BeBeez). The company retained Green Horse,DLA Piper(legal), EOS Consulting (technical), KPMG(model audit), AFRY (management consulting, market advisor), AON (insurance), and Trotter Studio Associato(tax). GreenGo will invest such proceeds in the development of eight photovoltaic plants with a total power of 41.8 MW
Vulcaflex, an Italian manufacturer of automotive interior trim with environmentally friendly and sustainable products, attracted a mid-term financing facility of 25 million euros from Unicredit, MPS, Banco BPM, and Deutsche Bank (see here a previous post by BeBeez). Pirola Corporate Finance assisted Vulcaflex which belongs to the Bozzi Family and has sales of 169 million, an ebitda of 23.5 million and a net financial debt of 49.8 million. The company will invest such proceeds in supporting its 30 million investment plans for improving the productivity and energy efficiency.
Sources said to BeBeez that BPER Banca, Banca Ifis and Banca Sella provided Italian fast food chain Alice Pizza, a company that Domenico Giovannini founded in 1989 and that now belongs to IDeA Taste of Italy – DeA Capital Alternative Funds, with a 10 million euros capex facility and further resources of up to 14 million (see here a previous post by BeBeez). The company invested such resources in repaying a 23.3 million loan that received in 2019 from Banco BPM, illimity Bank and Intesa Sanpaolo which in turn had the borrower’s shares as a pledge (see here the company’s data with the Chamber of Commerce veda qui la visura available for the subscribers to BeBeez News Premium and BeBeez Private Data). Orrick assisted the previous and actual lenders while PedersoliGattai, BC& and Essentia assisted Alice Pizza. The sources also said that Clessidra tabled a too low bid for acquiring the company which has sales of 55.1 million, an ebitda of 9.4 million and a net financial debt of 23.3 million.
Banca CF+ (fka Credito Fondiario), a challenger bank for corporate performing or re-performing financing that belongs to Elliott and Tages, closed a 27 million euros capital increase that attracted the resources of the firm’s shareholders (see here a previous post by BeBeez). The bank’s equity is now worth 104 million. Elliott invested 25 million in the transaction.
Vitali, an Italian construction company that belongs to the eponymous family, issued a 6-years 20 million euros ESG linked minibond, that UniCredit and Crédit Agricole Italia subscribed (see here a previous post by BeBeez). Such an issuance with an amortising repayment plan. Vitali retained Italfinance and will pay a lower interest upon the achievement of ESG target that Ecovadis will assess.
Milan-listed specs producer iVision Tech issued an up to 5 million euros minibond with biannual coupons of 6M Euribor + 300 bps (see here a previous post by BeBeez). The placement will take place on rowdfunding platform Fundera while retail investors may pour money in the issuance through CrowdFundMe. The company retained Frigiolini & Partners Merchant and will invest the raise proceeds in its organic and international growth as well as in the acquisitions of strategic brands. Stefano Fulchir is the ceo of iVision Tech which received a BB rating from Modefinance and has sales of 9.5 million, an ebitda of 2.13 million, net profits of 0.130 million, and a net financial debt of 2.71 million.
Metallurgica Abruzzese, an Italian producer of iron components that belongs to Gruppo Cavatorta, issued a minibond of 4 million euros maturing in 72 months that Banco di Desio e della Brianza and CDP subscribed (see here a previous post by BeBeez). Anthilia Holding and Simmons & Simmons assisted Metallurgica Abruzzese which has sales of 81.3 million, an ebitda of 4 million and a net financial debt of 44 million. Fawzia Cavatorta is the ceo of the company that will invest such proceeds in its organic growth.
Riccardo Agostinelli left the Milan-based law firm Molinari Agostinelli and joined Greenberg Traurig Santa Maria for heading the practice banking & finance, special situation and debt restructuring as equity partner (see here a previous post by BeBeez). Partners Marco Leonardi and Daniele Migliarucci and senior associates Alessandro Pallavicini and Cristina Cupolo, also joined Greenberg Traurig Santa Maria. Agostinelli previously worked for Gattai, Minoli, Agostinelli & Partners, Latham & Watkins and Ashurst.
New Deal Advisors (NDA) appointed Eugenio Rossetti as senior advisor for its Debt & Restructuring desk (see here a previous post by BeBeez). Mara Caverni, formerly private equity leader of PwC, founded NDA in 2012. Rossetti previously worked for Intesa SanPaolo as Chief Lending Officer and chairman of credits committee, and as director for Tinexta and Banco BPM. Since 2024, Rossetti heads to investment committe of Azimut’s private debt fund.
