Guala Closures, the Italian packaging company that Investindustrial is delisting from Milan market, increased to 500 million euros the size of the bond that previously aimed to issue for 475 million (see here a previous post by BeBeez). The on par issued bond is due to mature in 2028 with a fixed rate coupon of 3.25%. The placement will end on 7 July, Wednesday, ahead of a listing on one or more exchanges of the European Union. Guala Closures also received a revolving multi-currency financing facility worth 80 million that will replace the current item and support the business working capital. Guala will invest the bond’s and the revolving facility proceeds in repaying the senior secured Luxembourg-listed bond issued in October 2018 for 455 million due to mature in 2024 and in refinancing other liabilities.
Italian listed multiutility ACEA carried on a securitization of non-performing credits with a face value of 64 million euros through PES a vehicle that Phinance Partners structured (see here a previous post by BeBeez). PES srl issued asset backed securities that Phinance Partners and Euro Service subscribed.
Vitillo, an Italian producer of oleodynamic components, issued a minibond of 10 million euros due to mature in June 2028 (See here a previous post by BeBeez). Sources said to BeBeez that the bond pays an annual coupon of 2.6% and is part of the basket bond programme of Intesa Sanpaolo, which subscribed the issuance, and Elite, the private market of Borsa Italiana for solid Italian SMEs. Vitillo has sales of 68 million (65% abroad) with an ebitda margin in the region of 20%. The company reportedly aims to list. Antonio Vitillo, the company’s chairman, said that the raised proceeds will support the business organic growth and eventual acquisitions. The following companies previously joined the basket bond programme of Intesa Sanpaolo and Elite: Milan-listed EdiliziAcrobatica (10 million issuance), Iervolino Entertainment, and Ambienthesis, while Ledoga, M-Cube, Gruppo Illiria, Sigma, and Gruppo Cittadini dell’Ordine.
Sources said to BeBeez that Edra, a publisher with focus on the health sector that belongs to LSWR Group, issued a minibond of 7 million euros for which Sace provided a 90% warranty (see here a previous post by BeBeez). Anthilia Capital Partners subscribed the issuance. LSWR has sales of 42.5 million euros with an ebitda of 4.75 million. Giorgio Albonetti, the ceo of Edra, said to BeBeez that the company will invest the raised proceeds in its organic growth. Sign up here for BeBeez Newsletter about Private Debt and receive all the last 24 hours updates for the sector.
Italian distributor of sportswear clothes 3A Sport listed on the ExtraMot Pro market in Milan its 1.2 million euros minibond that was previously placed on the equity crowdfunding platform CrowdFundMe (see here a previous post by BeBeez). The minibond is due to mature in 18 months with a 4.25% annual yield and a bullet repayment plan. Franco Fabio Antonini (70%) and Lorena Antonini (30%) own the company that received B1- (mid-up end) rating from Modefinance, part of Teamsystem. The sales of 3A Sport amount to 41.9 million (45.4 million in 2019) with an ebitda of one million (1.59 million) and with a net financial debt of 9.8 million. The bond’s proceeds will support the plans for the company’s international expansion.
ETS Ecotecnologie, an Italian contractor, issued a 400k euros minibond that Fundera, the crowdfunding portal of Gruppo Frigiolini & Partners Merchant (F&P Merchant), placed (see here a previous post by BeBeez). This issuance is part of the programme Master per emittenti seriali of F&P Merchant and received the support of the Italian Ministry for Economic Development (MISE) through the Innovation Manager programme. The minibond is due to mature on 31 March 2022 and received the Sace’s warranty Garanzia Italia for 90% of its principal, interest and expenses. ETS has sales of 13.3 million with an ebitda of 1.2 million.
Cassa Depositi e Prestiti issued a Luxembourg-listed unsecured 500 million euros social bond due to mature in 8 years with a gross coupon of 0.75% (See here a previous post by BeBeez). The issuance attracted subscription requests for 2.5 billion. The bond received a mid-long-term rating of BBB (stable) from S&P, BBB- (stable) from Fitch and BBB+ (negative) from Scope. The raised proceeds will support the companies based in the South of Italy. Cdp Social Bond 2021 is part of the 15 billion programme Debt Issuance Programme (DIP).
ForVEI II, a joint venture of Foresight Group and VEI Green II, refinanced with 150 million euros a portfolio of 44 photovoltaic plants with a power of 50 MW (See here a previous post by BeBeez). Natixis, Banco Santander, BPM, and BNL provided the company with a long-term credit line and a stand-by facility.
Colacem, an Italian ciment producer, received a 90 million euros financing facility with the warranty Garanzia Italia of SACE (See here a previous post by BeBeez). Unicredit, Banco BPM, MPS Capital Services and Cassa di Risparmio di Orvieto provided the resources. Colacem belongs to the Colaiacovo family and has sales of 277.6 million (235 million in 2018), an ebitda of 29.2 milion (14.7 million) and a net financial debt of 111.5 million (115.6 million).
Milan-listed LU-VE Group, an Italian producer of heat exchangers which had listed tin 2015 hrough a business combination with the Spac Industrial Stars of Italy, received a 30 million euros green financing facility from Banco Bpm (see here a previous post by BeBeez). The company will invest 18 million out of the total facility for the implementation of ESG plans. Banco Bpm allocated 5 billion for supporting the ESG plans of Italian companies in 2020-2023. Earlier in May, LU-VE received from Intesa Sanpaolo credit lines of 55 million for its ESG plans.
Iscom (Isolanti Coperture Menegoli), a company active in the design and manufacture of trapezoidal sheet metal roofing and cladding for large areas, signed a debt restructuring agreement with its creditors Clessidra Restructuring Fund, illimity, Banco BPM, Credem, and Hypo Tirol Bank (see here a previous post by BeBeez). Clessidra, illimity and Banco BPM will also provide resources for supporting the company’s international orders. Iscom has sales of 28 million euros, an ebitda in the region of 4 million and a net financial debt of 20.3 million.