Cassa Depositi e Prestiti, Mediocredito Centrale e Finint Bank have given the go-ahead for funding from 10,55 million euros to Moretto Spa, a company from Vicenza that deals with industrial moulding, shearing, cold working of sheet metal and assembly.
In a press release from Banca Finint we read that with this loan “Moretto intends to support the development of business plan 2020-2024 which provides for the completion of the expansion works relating to the new 'Moretto 5' plant and the purchase of new machinery and equipment functional to the growth of the automotive sector".
Credit has maturity of six years, benefits from “a mix of national guarantees provided for by recent government measures (Liquidity Decree and the Cura Italia Decree) as the Italian guarantee of Sace and supranationals (guarantee of the European Investment Fund) and saw the disbursement of several bilateral loans for a total amount of 10,55 million euros”, continues the note.
In the transaction, Banca Finint acted as arranger, while the Nunzio Raffaele Di Gioia studio acted as advisor.
The company receiving the loan is controlled directly by the Moretto family and today operates through three production plants in Italy, one in Serbia and one in Poland, employing over 180 Guests and realizing more than 50% of its turnover abroad.
“Our group – explains Alfredino Moretto, president of Moretto – has strengthened its investment capacity for the strategic development of new lines, products and markets thanks to the fundamental support of the arranger Banca Finint and lenders of the caliber of Cassa Depositi e Prestiti and Mediocredito Centrale: the operation will allow us to make long-term investments and therefore I thank the institutions that have decided to embrace our industrial project"
According to Simone Brugnera, head of the minibond area of Banca Finint, "carrying out financing operations of this type, which are characterized by particularly advantageous conditions, is an excellent sign of confidence for all those companies that are continuing their investment plans by looking beyond at the moment".
