Tenax Italian has subscribed a 5 million euro bond loan in favor of MEP Macchine Elettroniche Piegatrici SpA. This is the first operation of the closed-end fund managed by Tenax Capital for the financing of small and medium-sized Italian companies.
"MEP is a company with 50 years of experience from the conception to the sale of "cut&bend, mesh-welding downstream business machinery" which in May 2015 was admitted to the Elite Program of Borsa Italiana and in August 2015 issued the first Project Bond of its history - commented Vito Rotondi, managing director -, compliant with the Extra Mot Pro Market, fully subscribed by Tenax Italian Credit Fund Plc. We are proud to have earned the credit and trust of the financial market. It is a further demonstration of the credibility of our Industrial Plan of which we are protagonists every day with the advancement of our competitive advantage.
MEP is based in Reana del Rojale (UD), and, with a turnover of approximately 60 million euros, of which over 90% in exports, is active in the sector of machinery for cold working of coils and bars and welding of round iron, mainly used in the civil construction sector and in the construction of large public works.
Vito Ronchi, Investment Manager of Tenax Italian Credit Fund Plc and portfolio manager of Tenax Capital, declared: “We are very satisfied with having made the first investment of the fund just two weeks after the first Closing and the investment in MEP fits perfectly into the objective of the fund to finance high quality and reputable Italian companies, with strong product expertise and solid prospects”.
