Unicredit has subscribed to a 10 million euro mini bond issued by U-Invest srl, a company in the Novara area that produces and sells safety shoes and clothing.
The bond has a four-year maturity and a variable annual coupon of 1,90% + 3-month Euribor. The capital will be repaid in a single solution – bullet – at the end of the fourth year, while the accrued interest will be paid on a quarterly basis.
The transaction will serve in part to refinance the company's short and medium/long-term debt and in part to support the group's investment programme.
Unicredit has also disbursed a medium-long term loan to U-Invest srl with a duration of 5 years amortising divided into two tranches.
“We have chosen to support a manufacturing company that represents Italian excellence, with credible and sustainable growth plans over time – commented Stefano Gallo, Unicredit North West Regional Manager – This transaction is a clear demonstration of our Bank's desire to be reference partner for local companies. In addition to traditional forms of financing, in fact, we offer innovative financial products, such as minibonds, which allow, among other things, initial access to the capital market”.
At the beginning of July Unicredit had already subscribed a minibond of Piazza Italia, while last December it was the turn of Comerio.
