Trevi Holding S.E., the 32.73% shareholder of listed Italian engineering and drilling company Trevi Finanziaria Industriale (Trevifin), applied for a restructuring procedure for its debt to the Court of Forlì- Cesena (see here a previous post by BeBeez). FSI Investimenti owns 16.85% of Trevifin, US investment fund Polaris Capital Management has a 10% stake. In December 2018, Trevifin announced the intention of launching a capital increase of 440 million euros for which the current shareholders will invest 130 million. Financial lenders will convert in equity 310 million of their credits. The conversion ratio will be of 4.5:1, ie shares worth one euro for every 4.5 euros of credits to convert. Trevifin is an issuer of a 50 mln euros bond listed on the ExtraMot Pro market.
Energy supplier uBroker listed on Milan stock market a short-term minibond of one million euros (see here a previous post by BeBeez). The minibond pays a 2.8% coupon and is due to mature on 18 April 2020. The company plans further issuances worth up to a total of 3 million euros with a 12 months maturity. Such liabilities will support the company’s working capital. Fabio Spallanzani and Cristiano Bilucaglia equally own uBroker that in 2017 had sales of 16 million euros, an ebitda of 2.129 millions and a net financial debt of 800k euros.
Italian cheese producer Mario Costa listed at the ExtraMot Pro market a senior short-term minibond worth 100k euros (see here a previous post by BeBeez). The minibond pays an annual 4.7% coupon and is due to mature on 18 November 2019. Mario Costa will carry on further issuances with a 12 months maturity amounting to up to a total of 3 million euros, worth up to one million each. The company will invest such proceeds in supporting its working capital. The Fileppo Zop family is the controlling shareholder of the company that has sales of 13.95 million, an ebitda of one million, and net financial debt of 10.9 million.
Italian car rental company Program di Autonoleggio Fiorentino issued a minibond of 4 million euros that Unicredit entirely subscribed (see here a previous post by BeBeez). The bond will mature in 2023, pay a 3 months Euribor index-linked coupon and have an amortizing reimbursement structure. Program has sales of above 70 million. Unicredit is one of the minibond investors that BeBeez Private Data monitors. Find out here how to subscribe to BeBeez Private Data for just 110 euros per month
Again Unicredit subscribed a 4 million euros minibond issued by Dani, an Italian luxury tannery company. The minibond has a 6 years maturity and pays a 3 months euribor linked floating coupon (see here a previous post by BeBeez). Dani will invest the proceeds in its organic development. In 1950, Angelo Dani founded the company that generates abroad 75% of its 180 million euros sales. Ceo Giancarlo Dani said that the company aims to consolidate its foreign presence.
Banca Ifis, the listed Italian NPL and specialty finance firm, appointed as its new ceo Luciano Colombini, former ceo of Banca Finint, for replacing Giovanni Bossi in its ceo role (see here a previous post by BeBeez). Ernesto Von Furstenberg, the son of Sebastien, will be the bank’s vice chairman. Von Furstenberg is the ceo of La Scogliera, the owner of 50.177% of Banca Ifis. Roberto Diacetti joined the company’s board as a representative of the investments funds.