Milan stock market created ExtraMot Pro3, a new segment for minibonds of unlisted growing SMEs. On ExtraMot Pro3 are already listed 157 instruments that 114 companies issued (see here a previous post by BeBeez). Subscribers to BeBEez News Premium may read here our Insight View on the topic (find out here how to subscribe to BeBeez News Premium for just 20 euros per month)
Zenith Service made a securitization of commercial invoices worth 25 million euros that Italian SMEs sold on CrescItalia LAB Platform (see here a previous post by BeBeez). The deal is part of a broader program which envisages the launch of a closed-end investment fund by Crescitalia Holding in partnership with Sagitta sgr, a company belonging to the Arrow Global Group. In fact the two launched SGT CrescItalia Invoice Fund last July, a new closed-end fund to invest in unexpired commercial invoices from SMEs, which is managed by Crescitalia LAB (see here a previous post by BeBeez).
Tikehau Capital appointed Martino Mauroner as director of the Italian private debt team (see here a previous post by BeBeez). Mauroner was previously part of the Italian leverage finance team of Crédit Agricole. Tikehau Capital is listed on Paris Euronext and has 23.4 billion of euros of asset under management and an equity of 3.1 billion. Luca Bucelli heads the Italian private debt activities of Tikehau, while Roberto Quagliuolo is in charge of the firm’s Italian private equity arm.
Funivie Seggiovie San Martino issued a 2 million euros minibond, due to mature in 2029 and for which the European Investiment Fund (EIF) provided its warranty (see here a previous post by BeBeez). Mediocredito Trentino Alto Adige subscribed this minibond. Funivie Seggiovie San Martino, belongs to the Ghezzi Family, Valeria Ghezzi is the ceo. The company will invest the issuance proceeds in its organic development.
Italy’s Eggtronic issued a minibond of 2.4 million euros due to mature in 2022 that private investors subscribed (See here a previous post by BeBeez). Eggtronic has sales of 0.901 million euros and an ebitda of minus 1.5 million.
Luigi Rizzi, a managing partner of GIM Legal, said that the Italian budget law for 2019 allows spvs to acquire minibonds that SMEs companies issue (see here a previous post by BeBeez). This is a substantial incentive for investing in baskets of minibonds that could have a greater effect if investor could receive fiscal benefits.
Unicredit and the European Investment Fund (EIF) signed a 60 million euros agreement for supporting the Italian microentreprises (see here a previous post by BeBeez). This initiative is part of Unicredit’s Social Impact Banking programme. Loans worth up to 25,000 euros and a 2 -5 years tenure are available for companies with less than 10 workers and a turnover of up to 2 million.
SGA, the Italian distressed credit firm that belongs to the Italian Ministry of Finance, rebranded as Amco (Asset Management Company) (See here a previous post by BeBeez). Marina Natale is the company’s ceo.
Yard Cam, a consultant for NPLs and UTPs secured that is part of Gruppo Yard, signed a partnership with fintech startup Reviva for providing auction services (See here a previous post by BeBeez). Alessandro Pasquarelli and Massimo Cremona head Yard.
Unicredit’s Croatian subsidiary Zagrebacka banka (Zaba) sold to DDM a portfolio of distressed credits amounting to 203.3 million euros (see here a previous post by BeBeez). DDM is a Stockholm-listed investor in distressed assets.
Gruppo Abate (Roberto Abate spa), an Italian supermarkets chain, received the approval from Catania Court for restructuring its 150 million euros debt (See here a previous post by BeBeez). The agreement involves 60% of the company’s creditors.
Italy’s troubled car dealr Koelliker sold its banking liabilities to CarVal Investors that collaborated with operating partner Celtic Asset Management, an Investment boutique that Giacomo Sonzini and Mario Vernazza founded (See here a previous post by BeBeez) . Koelliker’s non-core real estate assets now belong to CarVal Investors. Club Deal Car, a pool of investors that Canova leads, acquired 93.5% of Koelliker’s equity through a capital increase of 10 million euros. Luigi Koelliker, the previous sole owner of the company, now has 5% of the business, while the ceo Luca Ronconi has 1.5%.