Itelyum, an Italian waste management group that belongs to Stirling Square and DBAG, priced at par a 450 million eurosa Luxembourg-listed sustainability-linked bond with a 4.625% coupon due to mature in October 2026 (See here a previous post by BeBeez). The company will invest the proceeds in the achievement of ESG targets and may pay a more expensive coupon or principal for failing. Sources said to BeBeez that for 2021 Itelyum aims generate sales of 420 million with an ebitda in the region of 80 million.
Conceria Pasubio priced at par a 340 million euros bond with a 4.5% coupon due to mature in September 2028 (See here a previous post by BeBeez). The issuance will finance the buyout that earlier in June PAI Partners carried on for acquiring the company from CVC Capital Partners for an enterprise value of 700 million. Alberto and Luca Pretto head Pasubio, while Gianandrea De Bernardis is the chairman. In June 2017, CVC acquired 90% of Pasubio from the Pretto Family on the ground of an enterprise value of 285 million, sales of 330 million and an ebitda of 35 million. The company has a turnover of 265 million and an ebitda of 65 million.
Italian dairy company Gruppo Ambrosi carried on the private placement of a six-years 12 million euros bond and provided Grana Padano cheese as collateral (see here a previous post by BeBeez). Cassa Depositi e Prestiti, Finlombarda, Finint (on behalf of pension fund Solidarietà Veneto), and Kairos subscribed the bond. Ambrosi has sales of 400 million.
Unoenergy (fka Unogas Energia), an Italian utility, carried on a securitization of its own commercial credits for up to 50 million euros (see here a previous post by BeBeez). Banco BPM will subscribe the senior tranche of the asset backed partly paid notes, Trinity Fund will acquire the junior tranche. Unoenergy has a turnover of 785 million (-6.6%), an ebitda of 46.8 million (+10.8%) and net profits of 25.7 million (+13%), and a net debt of 15.4 million (78.3 million in 2019)
Between March 2020 and September 2021, Italian SMEs applied for loans worth 200 billion euros with the warranty of Mediocredito Centrale (MCC) and the Italian Ministry for Economic Development (MISE) (see here a previous post by BeBeez).
OSA (Operatori Sanitari Associati), an Italian cooperative company for the health sector received an unsecured financing facility of 3 million euros from Banca Sistema (see here a previous post by BeBeez). The facility received a Government warranty. OSA has sales of 115.3 million and an ebitda of 6.6 million.
Milan-listed Mittel acquired the troubled Italian fashion brand Jeckerson for 5 million euros (see here a previous post by BeBeez). In 2019, Jeckerson recorded sales of 19.7 million with an ebitda of 0.143 million, net losses of 4 million and a net financial debt of 3.1 million
Amco, Banco Desio and another Italian bank poured 59 million euros of real estate UTPs in the Back2Bonis (B2B) fund (see here a previous post by BeBeez). The fund has more than one billion UTPs under management ahead of a 1.5 billion target. MPS Capital Services, UBI, Banco BPM, and Amco previously swapped Ttps 450 million worth for stakes in B2B. Earlier in May, Bper Banca contributed to B2B with 52 million of Utp. The fund also received UTPs from Intesa Sanpaolo, UniCredit Leasing, Banco Desio and Banca Monte dei Paschi di Siena.
Siena Court accepted the receivership proposal of Sansedoni, an Italian construction company that belongs to Fondazione Mps (67%), Banca Mps (21.8%) and Unieco (11.2%) (see here a previous post by BeBeez). The company will launch a 5 million euros capital increase that Arrow Global’s subsidiary Europa Investimenti will subscribe. Sagitta, another company of Arrow, sgr, will create a fund that Sansedoni’s lenders will subscribe through the swap of their credits with the company. Fondazione Mps (3 million) and Arrow Global (10 million) will pour further resources in the fund for investing in Sansedoni’s real estate assets.
Intrum Italy appointed Massimo Della Ragione, the former co-head of Goldman Sachs in Italy, as vice president and Luca Bocca, the head of strategic planning at Intesa Sanpaolo, as director (See here a previous post by BeBeez). Giovanni Gilli is the ceo of Intrum Italy, a joint venture between Intesa Sanpaolo (49%) and Sweden’s investor in distressed credits Intrum (51%). Della Ragione is part of the advisory board of Quick Algorithm, an Italian fintech that joined the acceleration programme of Milan’s Bocconi University and earlier in August raised one million euros