Cassa Depositi e Prestiti granted to Intesa Sanpaolo a loan from 1 billion of Euro. The resources will be used to facilitate access to credit for smaller companies to help them implement their projects, supporting their growth and competitiveness.
The loan is part of the broader collaboration between the two institutions, aimed at promoting joint initiatives for Italian companies.
Cdp: 1 billion to Intesa, the details of the operation
According to what was communicated by Intesa Sanpaolo and Cdp, the bank led by Carlo Messina will use the entire amount received to in turn disburse new loans of up to 25 million euros, lasting up to 18 years, a Italian SMEs and Mid-Caps.
Resources will be dedicated to investments to be built and/or in the process of being built (also leveraging on the production chains) in Italy, at the expense of tangible and/or intangible fixed assets and working capital needs.
"The joint initiative of Intesa Sanpaolo and Cassa Depositi e Prestiti responds to the desire to support Italian SMEs and Mid-Caps in a constantly evolving market phase, allowing them to access long-term loans at advantageous rates", communicate the two companies in one note.
The deal also provides additional rewards in the case of investments with ESG purposes and, for certain types of financing, a combination also with other concessions accessible thanks to public guarantees.
Andrew Nuzzi, Head of Enterprises and Financial Institutions of cdp, he declared: “The synergy with Intesa Sanpaolo will in fact facilitate access to credit for smaller companies that play a crucial role in the Italian economy and will allow them to seize growth opportunities”.
Anna Roscio, Executive Director of Sales & Marketing Enterprises Intesa Sanpaolo, added that: “This further initiative with Cassa Depositi e Prestiti strengthens the long collaboration which for years has seen us united in financial proposals in favor of the competitiveness of our production system. We share a coordinated approach to interventions and a willingness to understand needs and find solutions and resources to make available to Italian SMEs and Mid-Caps".
