Download here the 2025 BeBeez Private Debt Report available for the subscribers to BeBeez News Premium and BeBeez Private Data.
Save the date!
We look forward to meeting you on 1 December, Tuesday,
at Milan’s Palazzo Mezzanotte, for the BeBeez Private Capital Summit 2026
Where Italy Meets Alternative Capital.
Professionals working for private capital funds, institutional investors, financial avisors, business lawyers, entrepreneurs, and managers
will highlight the Italian market evolution.
The event will articulate in two complementary parts:
☀️ The State of Private Markets 2026
🌙 Private Capital Gala
Click here for information about sponsorship and speaking opportunities or write to info@edibeez.it.
Gold Sponsors: Cherry Bank, Spada Partners;
Silver Sponsors: Banca Valsabbina, EOS IM, Scouting – Capital & Family Advisors;
Bronze Sponsors: FG2 Capital, Duke&Kay
Special Sponsor: BeBeez Private Equity Backed Managers Awards; Di Luccia & Partners
Download the BeBeez Magazine special issue of December 2025 for the reports about BeBeez Private Capital Summit 2025
Banco Santander received assistance from A&O Shearman assistance for carrying on an on-balance-sheet synthetic securitisation relating to a 2.4 billion euros portfolio of facilities for mid and big caps that an undisclosed firm originated (see here a previous post by BeBeez). Pietro Bellone is a partner of A&O Shearman. On 7 October, Wednesday, Santander Consumer Bank completed a cash SRT securitization of 700 million worth car loans. Golden Bar (Securitisation) issued class A, B, C, D, and E ABS notes that DBRS and S&P rated while the Z junior tranche is unlisted and unrated. Banco Santander acted as arrangers with the support of joint lead managers Crédit Agricole CIB and Crédit Industriel et Commercial.
Guala Closures, a portfolio company of Investindustrial, issued a Luxembourg-listed one billion euros high yield senior secured bond with a rate of 375 basis points on top of 3M Euribor (0% floor) and quarterly reset maturing on 5 October 2033 for refinancing two previous issues of the same amount (see here a previous post by BeBeez). The company also renewed a super senior multicurrency revolving credit facility of 175 million. The bond will pay interests on 15 January, April, July and October starting from 2027. Guala will be able to repay in advance the notes paying a make-whole premium before 5 October 2027. After then, the reimbursement will be at par plus accrued interest. However, selected cases of control change can trigger a buy-back offer at 101 per cent of the nominal value of the bond. Such a transaction does not increase the nominal amount of senior secured debt, but it significantly extends its maturity and alters the cost structure. Guala will invest such proceeds in acquisitions, its working capital, capital expenditure, investments, joint ventures and reorganisations. The bond’s pricing will link to the respective benchmark rates plus a margin subject to a decreasing ratchet based on the ratio of senior secured net debt to pro forma EBITDA. Deutsche Bank, J.P. Morgan, UniCredit, Goldman Sachs Bank Europe, Mediobanca, UBS Investment Bank, IMI-Intesa Sanpaolo, Santander, Chiomenti, Weiss, Rifkind, and Wharton & Garrison assisted Guala Closures. Latham & Watkins and Maisto e Associati assisted the lenders. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors Investindustrial and its investments. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Medisolve, a portfolio company of HIG Capital, refinanced its debt with Barings and Deutsche Bank and attracted further facilities of above 70 million euros for M&A and international expansion through a bond in private placement a super senior revolving multicurrency line (see here a previous post by BeBeez). Medisolve recently acquired Austrian Mides Healthcare Technology and Italy’s Origlia. In August 2026, the company’s board approved a total transaction of up to 245 million (two senior secured bonds of up to 220 million and a super-senior revolving facility of up to 25 million – see here the board meeting notes available for the subscribers to BeBeez News Premium and BeBeez Private Data). The first unitranche bond issue may amount to 175 -180 million with maturity on 15 September 2033 according to Bank of Italy’s database. In addition to this, there is a Capex bond up to 45 million, reducible to 40 million should the unitranche be of 180 million. This issuance of this second bond may also be in several tranches within 42 months of the unitranche. The company will carry on a a private placement with professional and qualified investors for both unlisted bonds with a 100% price of the nominal value and a rate equal to Euribor with a zero floor plus an initial margin of up to 5% and a semi-annual coupon payable in arrears and the option to capitalise part of the interest via a PIK mechanism. In the event of capitalisation, the margin increases by 0.125% per year for every 1% of interest capitalised. Medisolve retained Mediobanca, Latham & Watkins, Ropes & Gray, Fortlane Partners, EY-Parthenon, EY, and Maisto e Associati. Hogan Lovells Cadwalader advised the lenders and the bondholders. GLAS acted as Escrow Agent, Issuing and Calculation Agent, Security Agent, representative of the bondholders, and Facility Agent. Nicola Antognetti is the cfo of Medisolve while Angelo Maresca is the ceo. Norbert Minarik is the founder of Mides, a former portfolio company of German Allistro. Alessandro Origlia is the ceo of Origlia. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors HIG Capital and its investments. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Revalue Energies attracted project financing facilities (a Senior, a DSR and a GSE Guarantee) of above 160 million euros from Bayerische Landesbank (BayernLB), UniCredit and ING with an accordion mechanism, which will enable funding to be increased in the future to support any expansion of the portfolio (see here a previous post by BeBeez). Such proceeds will finance a portfolio of 26 solar power projects totalling approximately 162 MW, spread across six regions in central and northern Italy. BonelliErede, BYOM, Aon, and PwC advised the lenders. Co-ceos Marco Corsetti and Luca di Giacomo founded Revalue Energies in 2023.
LexCapital B-Corp carried on a securitization of litigation funding credits with the support of loans from Helios Spv (see here a previous post by BeBeez). The warranties come from LexCapital and Helios that also issues up to 10 million worth partly paid multi-tranches asset-backed securities (ABS) maturing in 2040. Azimut Libera Impresa’s Azimut Absolute Non-Performing Assets Evergreen SCSp and Azimut Global Private Debt Evergreen RAIF SCSp will purchase such notes. The operation also takes place on a revolving basis; therefore, part of the cash flow that the recovery of the initial receivables generated will co-finance subsequent purchases of other disputed receivables, until the achievement a target portfolio of 10 million (see here the LexCapital board meeting notes available for the subscribers to BeBeez News Premium and BeBeez Private Data). Advisory & Finance, Genesis AM, Suits Tailored Investments, and Azimut Corporate Finance provided support for carrying on the securitization. Giuseppe Farchione is the ceo of LexCapital.
CAM, a real estate firm that belongs to the Marinelli Family, attracted a 5 million euros direct lending facility from Tenax Capital and issued a 6 million worth secured and amortising minibond that BCC Banca Iccrea (2 million), Banca del Fucino (2 million), BCC Roma (1 million), and ViViBanca (1 million) (see here a previous post by BeBeez). BCC Roma originated the transaction while BCC Banca Iccrea acted as deal arranger and RPLT as counsel. BeBeez Private Data, the private capital database of BeBeez and FSI, monitors CAM, Tenax Capital and the banks that invest in minibonds. Find out here how to subscribe for one month or one year or Click here for booking a demo videocall with BeBeez database manager
Sources said to BeBeez that Tortoise, an investor in luxury real estate of which Singapore’s SCR Capital owns 42.9%, received from UniCredit a 39.8 million euros loan maturing in 2031 for the regeneration of historical 4300 sqms building Palazzo Rimbotti in Florence (see here a previous post by BeBeez). Gianni&Origoni advised the lender. Laroma Jezzi & Partners assisted Tortoise which provided its shares as pledge for the loan (see here the Deed of Pledge available for the subscribers to BeBeez News Premium and BeBeez Private Data). SCR belongs to Kwee Liong Seen and Kwee Liong Tek, the founders of luxury real estate investor Pontiac Land Group. The loan can extend to a further three years and charges a 200 basis points spread on 6M Euribor rate. The facility has three tranches: 25 million that will refinance the facility that Tristan Capital provided for purchasing the building; 12.7 million for the refurbishing; 2.1 for the VAT.
Generali Real Estate Debt Investment Fund II (GREDIF II), a vehicle that raised one billion euros in December 2025 and for which Nunzio Laurenziello acts as ceo, already invested 700 million (see here a previous post by BeBeez). By the end of 2026, GREDIF could close a 50 – 80 million worth deal. Stefano Lombardo is Generali Real Estate’s head of debt funds.
