Unicredit SpA subscribes to a bond loan issued by Comerio Ercole SpA, a leading company in the production of machines for processing plastics, rubber and non-woven fabrics. The unsecured bond loan has an amount of 5 million Euros, a duration of 7 years and a variable annual coupon of 2,56%. The principal will be repaid in 84 quarterly installments with French amortization, while the accrued interest will be paid on a quarterly basis.
Comerio Ercole SpA, a historic company based in Busto Arsizio, founded in 1885 and then developed considerably over the years, is today one of the main Italian companies active in the development, design, production and sale of machines and complete plants for polymers and elastomers. The company holds a prominent position on the market and has a strong vocation for export, as demonstrated by the financial results which show a marked and constant presence on international markets with a share of turnover destined for foreign countries of over 90%.
The issue subscribed by UniCredit Spa will have the purpose of supporting the industrial group in its path of growth and corporate development, as part of an "investment" program that allows continuous improvement of its market positioning and constant process of technological innovation also with respect to the most recent INDUSTRY 4.0 paradigms to meet the multiple and increasingly complex needs of customers, in accordance with the 2017-2024 business plan.
"Quality and technology have always been the "mantra" of Comerio Ercole SPA since its origins back in 1885 and being constantly innovative has become the usual method we adopt to satisfy our customers as a supplier not only of machines but more properly of industrial solutions. Exactly for this reason
we made an innovative choice also from the point of view of the type of financing using an instrument such as the "minibond", used in the main international markets. This operation has a double value: the use of new corporate finance tools and new Industry 4.0 solutions on which we have been aiming for some time. Two fronts on which the future not only of our company but of all Italian manufacturing is at stake" commented Riccardo Comerio, CEO of Comerio Ercole SPA "I am particularly satisfied with UniCredit's choice to subscribe its first "minibond" in Lombardy by investing right on our industrial reality. A sign of concrete commitment to support the real economy of Italian SMEs”, added Comerio.
