The new "Export Development Fund”, created on the initiative of SACE and dedicated to subscription of bonds issued by unlisted Italian companies - especially SMEs - with a vocation for export and internationalization. SACE intervenes in the Fund, with a total capacity of 350 million euro, also acting as investor. The Fund, managed by Amundi Sgr, will invest in bonds secured o unsecured, with a fixed or variable rate coupon and repayment by installments or on maturity.
With Fondo Sviluppo Export, SACE expands its ability to intervene at the service of businesses, with the aim of supporting growth and opening the Italian market to alternative sources of financing to the banking channel, in a phase of persistent credit supply restriction . At this point SACE's strategy is increasingly differentiating itself from that of simple insurer of Italian exports to a function of catalyst for new sources of financial resources for the most dynamic and competitive companies, in a situation in which the banks and the Stock Exchange have slowed down this fundamental role precisely when there is the greatest need to relaunch investments.
In this context, SACE is also working on the definition of new types of guarantees for bond issues subscribed by funds or qualified investors and has already signed collaboration agreements with funds promoted by various managers and is preparing to finalize new partnerships.
