It takes shape for the first time in Italy un Basketball Bond which will serve to finance the sustainable development plans of small and medium-sized businesses. I'm throwing it UniCredit and Cassa Depositi e Prestiti with the guarantee tools of the European Investment Bank.
The program starts today with the first tranche of emissions from 48 million euros in favor of 8 companies located throughout the national territory, but the instrument will mobilize resources for at least 100 million in favor of sustainability.
“With the first Basketball Bond ESG at the market level that we are launching today with CDP,” he said Remo Taricani, deputy head of UniCredit Italia - we mobilize new and important resources, complementary to bank credit, which allow us to provide further support to the increasingly numerous and significant investment projects of the country's companies in the sense of sustainability".
First tranche of the Basket Bond Erg destined for 8 SMEs and Mid Caps
for 8 companies recipients of the first tranche CDP and UniCredit have each subscribed to 50% of the total amount of the programme.
Each of these companies issued minibonds of duration equal to six years, gathering resources useful for promoting their respective growth and development plans, in Italy and abroad: Comat Servizi Energetici, a Turin company that issued a 12 million euro minibond, Fitt from Vicenza (10 million), Como-based Lariotex (8 million), GDL from Turin (6 million), Ferretto Group from Vicenza (4 million), Autuori Group Logistics from Salerno (3 million), Studio Progettazioni Industriali from Calabria (3 million) and Compagnia Manifatture Tessili from Naples (2 million).
Subscribing to these minibonds happened through a vehicle company – Special Purpose Vehicle (SPV) – which in turn issued securities subscribed, in equal shares, by UniCredit and CDP as institutional investors. The eight issuing companies are committed to improving your scoring sustainability rating assigned by an external company, Cerved Rating Agency, with monitoring starting from the third year after issue.
The ESG Basketball Bond it also enjoys the guarantee of the European Guarantee Fund (EGF) managed by the European Investment Bank Group (EIB), to cover 90% of the losses recorded on individual minibonds and up to a maximum capacity of 35% of the overall portfolio.
“The initiative stems from the growing awareness of businesses of the importance on the one hand of moving towards based business models to criteria of environmental nature, social and governance, on the other hand to access forms of financing complementary to traditional banking ones” says a note. "The Basketball Bondmoreover, it is proving to be an ideal tool for channeling the interest of institutional investors towards small and medium-sized enterprises which otherwise individually would have difficulty accessing the capital market”.
Here are the 8 companies involved in the first tranche
▪ Comat Energy Services SpA of Turin, is one of the main private Italian operators of heat management and energy service (2.400 condominiums managed) and is identified as an ESCo. Energy Service Company in the field of residential energy efficiency. The minibond is aimed at investments for the construction and installation of photovoltaic systems and for improving the energy efficiency of buildings.
▪ Fitt SpA. historic company from Vicenza (Vi), founded in 1969 and recognized for some time as a leader in the production and development of highly innovative solutions aimed at the passage of fluids for domestic, professional and industrial use, active both in the end customer market through large-scale distribution, both in that of B2B. The minibond is intended for new investments aimed at energy efficiency and upgrading of production lines.
▪ Lariotex SpA, founded in 2013, the company is based in Vertemate con Minoprio (CO), in the textile district of Como. Lariotex operates in the wholesale trade of textile products and acts as a reference partner for Italian and foreign business customers, for fabrics ready for printing and/or dyeing. The minibond is aimed at investments for the development of its own brand, for external growth through acquisitions and for the purchase and renovation of a warehouse.
▪ GDL SpA was born in Turin in 1985 as a specialist in bathtub and shower replacement services, of which it is today the leader. The company has developed by expanding its offer to domestic air conditioning systems and other products and services of the "home project". From 2023, GDL will launch its offer of photovoltaic systems for domestic use on the market. The minibond is aimed at the following Investments: restructuring and preparation of an important expansion of the UniCredit - Public logistics hub, adoption of the new ERP software, digitization of strategic processes, implementation of the distribution structure on the territory.
▪ Ferretto Group SpA, founded in Vicenza in 1956, is one of the leaders in the panorama of automatic warehousing systems at an Italian and international level. It designs and manufactures a wide range of innovative, high-tech cargo handling solutions. The minibond is intended for new investments aimed at efficiency and production expansion, with the aim of doubling the capacity of the "Vertical" product line.
▪ Author Group Logistics Srl based in Salerno (Sa) is a leading company in the logistics and transport sector and carries out national and international road freight transport and related logistics services, guaranteeing the integrity of the transported products thanks to the use of last generation. It is present with 3 logistics hubs in Italy in the provinces of Salerno, Latina and Pavia, as well as with platforms in the Netherlands, Belgium, France, Romania and the Slovak Republic. The proceeds of the minibond are aimed at the purchase of new, less polluting vehicles.
▪ SPI Studio Design Industriali SpA, a Vibo Valentia company with over 35 years of experience in the insulating window and door sector. It operates on the domestic and international market. The product range includes PVC windows, aluminum and aluminum shutters, production is located in two factories located in Maierato (VV) and Rottofreno (PC). The proceeds of the minibond will be used to finance the purchase of new 4.0 plants and machinery and a photovoltaic system to reduce its energy dependence on the outside and optimize costs.
▪ CMT, Textile Manufacturing Company is the company that owns the historic “Camomilla Italia” brand, whose main activity is the production and distribution of women's clothing and accessories collections. Created in the 70s, it boasts 245 single-brand stores in Italy. The minibond is aimed at supporting the investment plan in Digital Transformation: integration of digital technologies in the commercial process, development of online sales channels, adoption of new technologies and digital apps for company organization and logistics integration
