Banca Finint will sponsor two BeBeez Caffè in aroma web (web breakfasts) that will take place on 11 and 12 May, Tuesday and Wednesday (see here a previous post by BeBeez). Stefania Peveraro, the Editor in Chief of BeBeez, will discuss about the new trends and products in the securitization sector with Daniele da Lozzo, the chairwoman of Finint Revalue Luigi Bussi, Head of Corporate & Investment Banking at Banca Finint, and Norman Pepe, a partner of London-based firm Italian Legal Services, Giuseppe Caputo, cfo of Casavo, Sandro Marcucci, cfo of Alba leasing, Edoardo Lombella, Head of Non Core NPE at Banco BPM, Andrea Modolo, Co-Head of Agency and Specialized Financing at Unicredit, Andrea Tresoldi, head of Utp at Intrum Italy, and Marco Raccah, coo of Aurora REcovery Capital. Further panelists are Paolo Gabriele, Banca Finint, Riccardo Carradori, ceo of TeamSystem Financial Value Chain, Sabino Costanza, the co-founder of Credimi, Tiziana Marongiu, chief business development officer of Credimi Digital Lending and Securitizations. Sign up here for joining the 11 May panel and here for the 12 May session
Milan-listed Astm, the holding for motorway management of the Gavio family and of Ardian Infrastructure, attracted two ESG financing facilities of 50 million euros each from Mediobanca (see here a previous post by BeBeez). Both loans pay a floating rate while the repayment structure for one is bullet and for the other is amortizing. Astm will invest such proceeds for improving the safety of the infrastructures it owns
Funivie Valle Bianca (FVB), a skilift company, issued a 0.7 million euros minibond due to mature in 2027 (see here a previous post by BeBeez). FVB has sales of 5.1 million with an ebitda of 2.2 million and will invest the raised proceeds in the extension of the Prati di Gaggia slope, the extension of the Gaggia and Comune slopes and a new baby express lift (a small, children-friendly gondola serving a blue slope designed for beginner skiers).
Italian fintech Credimi made a 50 million euros worth securitization of a portfolio of SMEs loans through the spv Lumen (see here a previous post by BeBeez). Banco Desio will subscribe the asset backed securities partly-paid in view of financing Italian SMEs based in the regions where the bank operates through five-years loans that will receive a 90% warranty from Fondo di Garanzia Mcc. These loans have a first year of pre-amortisation, while a repayment will start in 2022. The borrowers may generate a turnover of at least 50,000 euros and a corporate history of at two years or more.
Navigazione Montanari, an Italian shipping company, received a 35 million euros financing facility from illimity Bank (see here a previous post by BeBeez). The loan has a 6-years tenure and Sace provided a warranty through the programme Garanzia Italia. Navigazione Montanari will invest such resources in the upgrade of its fleet. In December 2018, Navigazione restructured 300 million US Dollars of its banking debt through a sale&lease back of 11 of its 21 vessels.
After the 2020 lockdown, MSC Crociere, the Italian-Swiss cruises company of which Gianluigi Aponte owns a controlling stake, posted a turnover of 705 million euros (deep down from 3.2 billions in 2019), an ebit of minus 797 millions and net losses of 939 millions (see here a previous post by BeBeez). Mr. Aponte poured 222.5 millions in the company through a 172.5 million loan to repay after April 2027 and 50 millions for acquiring the whole of Bluvacanze Group.
AMCO, made an amendment to its statutes in view of supplying warranties on synthetic securitizations (for which SPVs don’t issue notes) that have sub-investment grade loans as underlying assets (see here a previous post by BeBeez). AMCO made such announcement as soon as the European Union changed the regulation about synthetic securitizations (see here the Insight View of BeBeez available to the subscribers of BeBeez News Premium). AMCO also made another amendment for allowing the less represented gender to have at least 40% of the executives and auditors.
Milan-listed Illimity closed a senior financing operation aimed at supporting the securitization of a portfolio of distressed retail unsecured credits with a face value of 175 million euros (see here a previous post by BeBeez). Illimity will subscribe the senior notes and Sorec the junior tranche of a spv.