I minibonds they also land in Puglia. For the first time, eight companies in the Southern Region have issued this type of bond. In all, the total collection has reached its quota 33,4 million euro.
The launch of the minibonds took place on the initiative of the Puglia Region and was carried out by the in-house regional company Puglia Sviluppo, which guarantees the bonds.
Cassa Depositi e Prestiti e Mediocredito Centrale who acted as institutional investors, each subscribing 47,5% of the issue. The remaining 5% was subscribed by Unicredit, which also acted as the originator of the securitisation.
In all, Puglia Sviluppo has 40 million euros available to use for guarantees: resources that will produce at least 160 million in new loans for small and medium-sized enterprises.
Until now, no Apulian SME had yet been financed on the capital market instead of resorting to the traditional banking channel.
“We have carried out the great project of innovative finance and made one more tool against the pandemic economic crisis concrete – commented the president of the Puglia Region, Michele Emiliano – When we first became interested in minibonds, associating them with small and medium-sized enterprises in the South seemed like a utopia. And instead the Apulian productive fabric has responded, not only with enormous interest but, starting today, with concrete emissions".
The eight companies that issued the minibonds will use the resources obtained to increase productivity by developing the efficiency of production processes (two companies will open new factories). In detail, four companies operate in the province of Bari, two in the province of Foggia, one in the province of Lecce and another will invest both in the province of Bari and in the province of Lecce.
According to Andrea Casini, co-CEO of commercial banking Italy of Unicredit, the Apulian minibonds are "an opportunity for local companies to easily access the capital market, drawing on funding sources complementary to the banking channel, useful for carrying out projects of investment, internationalization, innovation and to meet the needs of working capital”.
