Cassa Depositi e Prestiti granted to Unicredit 1,8 billion euros in financing with the aim of strengthening access to credit and supporting both the growth and competitiveness of smaller Italian businesses in Italy and abroad, with a focus on Southern Italy.
Financing details
In detail, CDP has fully subscribed in favor of Unicredit two senior preferred unsecured bond financings for a total of 1,8 billion euros. The resources are divided into two tranches, the first for 800 million and the second for 1 billion. The bank led by Andrea Orcel will use them to provide new loans, of a unit amount up to a maximum of 20 million and of a duration of not less than 24 months, to support the development and investments of Italian SMEs and Mid-Caps.
In particular, Unicredit has committed to allocate at least 51 % of resources in favor of SMEs operating throughout the country and at least the 51 % to companies with registered office and/or operational headquarters in one of the eight Regions of Noon (Abruzzo, Basilicata, Calabria, Campania, Molise, Puglia, Sardinia and Sicily). Furthermore, at least 10% of the second bond issue will be used to finance "Green Buildings”, or projects aimed at reducing energy consumption or increasing the energy efficiency of public, commercial, residential, and recreational buildings.
CDP-Unicredit: €1,5 billion disbursed to over 3.400 businesses starting in 2022
The initiative is part of a broader collaborative relationship between Cdp and Unicredit which, thanks to the bond funding instrument, has already allowed over 3.400 Italian companies to get new credit for a total value greater than € 1,5 billion, from 2022.
“Cassa Depositi e Prestiti – he said Andrea Nuzzi, Business Director of CDP – confirms its commitment to supporting Italian companies with the aim of facilitating their access to credit, promoting their investment and growth plans through external lines, and supporting their internationalization programs.”
For Remo Taricani, deputy head of Italy at Unicredit, '"SMEs and mid-caps represent a fundamental element of the Italian production system and play a central role in our Unicredit Unlimited plan. Our goal is to continue to be a key partner for the real economy, providing concrete tools and effective solutions to support the growth of the country's entrepreneurial fabric."
