The total collection of minibonds in 2022 to encourage the growth projects of the 22 Italian companies that have joined the Basket Bond Italia program it amounts to about 100 million. This is the 2022 budget of the project presented by the European Investment Bank (EIB), Cassa Depositi e Prestiti (CDP), Mediocredito Centrale (MCC), Banca Finint, Confindustria Veneto Est and ELITE-Gruppo Euronext. The purpose of the plan is to support through tools alternative finance access to the capital market and investment and development plans for smaller companies, strengthening competitiveness in Italy and abroad.
Companies financed with minibonds
In particular, communicates cdp in a note, to the first 9 issuing companies more have been added 13 companies operating in some of the main strategic supply chains of the national economy:
- Gemmo is active in the world of infrastructure and services (it has issued minibonds for 7 million),
- Bonotto operates in the placement of sheet piles in the ground, structural components (3 million),
- Mobili Fiver manufactures and sells furniture (3 million),
- Gabbiano is active in the wholesale trade of various consumer products (2 million),
- Bibetech prints material for technical sectors (5 million),
- Bortolomiol produces and markets wines and sparkling wines (2 million),
- Patelec manufactures and sells electric wires (4 million),
- HNH Hospitality buys, renovates and manages tourist and leisure activities (5 million),
- SIMET manages electrical systems (3,5 million),
- Azzurra Group produces and sells furniture (4 million),
- Aton creates and sells software (3 million),
- Cerbone distributes accessories for windows (3 million)
- De Angelis Food produces fresh pasta (5,3 million).
Each of these businesses has issued minibonds, all with a duration of six years including pre-amortization, collecting useful resources to support their projects to be implemented over the next few years. The subscription of these minibonds took place through a vehicle company - Special Purpose Vehicle (SPV) - which in turn issued securities subscribed by CDP and MCC, in equal shares.
“The program benefits from the guarantee of the European Guarantee Fund (EGF) managed by the European Investment Bank (EIB Group), an integral part of the package of response measures to Covid approved by the EU in 2020 and dedicated to countering economic difficulties and slowdowns production caused by the pandemic”, underlines Cdp in a note in which it also explains that the initiative was promoted by Banca Finint, in the role of arranger in cooperation with Confindustria Veneto Est, and ELITE, part of the Euronext Group. CDP and MCC have invested in minibonds issued by companies that intend to finance their growth in size using an alternative and complementary channel to the traditional credit channel.
Launched in mid-September with a maximum capacity of 150 million, in just a few months the plan has allowed the completion of four tranches for a total value of approximately 100 million with a number of issuers the highest among basketball bond programs made in 2022 nationwide.
