Cogne Acciai Speciali, a company active in the production and distribution of long stainless steel products, has issued un mini-bonds of 15 million euro. The minibond was subscribed for 10 million by Cassa Depositi e Prestiti, anchor investors of the transaction, and for the remaining 5 million from Iccrea Banca Impresa (the corporate bank of the Iccrea Cooperative Banking Group) and, to a lesser extent, from other investors.
“The Minibond – reads a note – will be listed on Borsa Italiana's ExtraMOT Pro, a segment dedicated to the listing of bonds intended for institutional investors. The transaction, reserved exclusively for professional investors, has a duration of 7 years (until June 2026) with repayment amortising starting from December 2021 and an annual coupon of 3,5%”.
The proceeds deriving from the placement, explains Cogne Acciai Speciali, will be used in investments relating to the air pollution prevention and in “growth support” interventions.
Banca Finint and ADB Corporate Advisory respectively acted as arranger and advisor of the transaction.
The Cogne Acciai Speciali group, chaired by Giuseppe Marzorati, employs more than 1.400 people, with related activities of at least another 400 people. The Cogne Group closed 2018 with over 600 million euros in revenues, an ebitda of 60,4 million euros and a net financial debt of 85,4 million.
