Banco Bpm and Rummo have perfected a agreement di financing of 42 million euros in favor of the Benevento pasta factory, a historic Italian reality in the food sector in the production of high-end pasta. The operation, which lasted 5 years, was followed up for Bpm bank by the Carnelutti law firm and for Rumo Spa by the Bordiga Xerri law firm.
Banco Bpm and Rummo towards full refinancing of residual debts
In particular, it aims at full refinancing of residual bank debts after the heavy debt into which the pasta factory was forced to restore the serious damage caused by the flood of October 2015 to the entire factory (machinery, plant, warehouse) with the consequent blockage of production activity.
With the resumption of activity in May 2016, the company started its reconstruction. The commercial success, according to a note from the banking institution, was followed by a powerful financial recovery with an initial debt reduction to less than a third, thus making the financing agreement defined with Banco Bpm possible.
“The loan to Rummo confirms Banco BPM's commitment to supporting the agri-food sector – he commented Luca Manzoni, corporate manager of Banco Bpm –. Rummo is a company that we proudly support because, starting from a local dimension, it has managed to reach an international position without losing its link with the territory and the artisan quality of its products”.
“The operation concluded with Banco Bpm closes the chapter of the reconstruction of Rummo in the best possible way – he stated Cosimo Rumo, president and CEO of Rummo – Starting tomorrow we will finally be able to concentrate on our industrial objectives and growth plans, consolidating the excellent performance of recent years”.
