Download here the BeBeez Private Debt Report 2024 available for the subscribers to BeBeez News Premium and BeBeez Private Data.
Dedalus approved the issuance of a new PIK secured bond of 350 – 640 million euros, depending on the possible exercise of the option to accrue interest at maturity which will be of 6M Euribor (0% floor) plus a 7.75% spread that can increase by 50 basis points per year in the event of capitalisation (see here the notes of the board meeting available for the subscribers to BeBeez News Premium and BeBeez Private Data BeBeez Private Data and here a previous post by BeBeez). The bond will mature in 2031. The shares of Dedalus group that belong to Ardian and its co-investors will provide the group with the necessary resources to repay in advance the currently outstanding PIK bond of 311 million (including accrued interest) issued between 2020 and 2021 previously scheduled to mature in 2027 and paying a coupon of 11% that Tikehau Investment Management acquired. Press reports say that BNP Paribas Milan, UBS AG London Branch, Credit Agricole Milano, l’allora Banca IMI, Société Générale Paris, UBS Europe SE, and Unicredit also priced an increase of up to 4 billion of a term loan B worth 1.225 billion maturing that provided in 2022 in May 2027. Such amend&extend (A&E) deal will also involve a 165 million revolving facility whose maturity will extend from November 2025 to 2029-2030. In May 2025, Fitch Ratings upgraded Dedalus outlook from negative to stable and assigned a B- corporate rating and B for the term loan B. BeBeez Private Data, the private capital database of BeBeez and FSI, monitorsArdian, Abu Dhabi Investment Authority, Three Hillsand their Italian portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Plena Education (fka K-Now), a portfolio company of Kyip Capital, received a 10 million euros loan from Milan-listed illimity Bank and Cherry Bank (see here a previous post by BeBeez). Fineurop Soditic acted as debt advisor. The company will invest such resources in optimising its capital structure and enabling new investments, including the completion of last September’s acquisition of Cast Alimenti, a cooking school based in Brixia. Gianluca Losi, is the ceo of KYIP Capital. Alessandro Montel is the ceo of Plena Education. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Kyip capitaland its portfolio companies. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Campagnolo, an Italian producer of components for high-end racing bicycles, secured a total of 8.5 million euros from Cherry Bank (see here a previous post by BeBeez). The company received a 5-million five-year loan with SACE warranty and a 3.5 million factoring line for advances without recourse in support of the working capital.
