09 April 2020
Garanzia Campania Bond, launched the Minibond issuing programme with the first slot: of €21,5 million on behalf of eight SMEs from the Campania Regino. Securitisation Services assumed managing roles
8 campanian SMEs issued minibonds for an aggregate of €21,5 million through the Garanzia Campania Bond aiming to finance their developement and growth programmes.
The first issuance involves Citel Group S.r.l., Coelmo S.p.A., Italia Power S.p.A., La Tecnica nel Vetro S.p.A., Pinto S.r.l., Protom Group S.p.A., Sciuker Frames S.p.A., Dpinosa S.p.A..
The issuance proceeds amounting between €2 and €3 million per company will be used to finance their development programmes i.e. the creation of new facilities, acquisition of new companies, and raw material purchase.
The objectives of the companies include product diversification, business expansion, digital process acceleration, automation and logistics improvement.
Garanzia Campania Bond is a valid alternative to the traditional bank channels to finance investments and working capital through the issuing of Minibond assisted by the warranty of Sviluppo Campania portfolio.
Garanzia Campania Bond is expected to issue debt securties for a total amount of €148 million € with a warranty coverage equal to the 25% of the total value.
Campania Region has allocated 37 mln € of which 5,3 mln have been already put in use, with the approval of the admission decision from Sviluppo Campania.
In the next months there are expected new minibond issuances due to the strong interest from Campanian enterprises: currently there are 124 particularly interested SMEs.
Garanzia Campania Bond project is coordinated by Mediocredito Centrale and FISG (Arranger) and it is supported by Elite and Grimaldi Studio Legale to promote regional developments and initiatives.
Cassa Depositi e Prestiti and Mediocredito Centrale financed pro-quota this operation through the notes subscription issued by the special purpose vehicle Basket Bond Campania S.r.l.
Securitisation services acted as Servicer, Calculation Agent, Representative of Noteholders, and Corporate Servicer.
Links: