Questa schermata consente al tuo monitor di risparmiare energia. Clicca ovunque per tornare alla navigazione
The new 500 million Euro bond issue programme to support the internationalisation of Italian companies
The Export Basket Bond programme launched by CDP, in collaboration with Banca Finint, provides companies participating in the ELITE platform with a medium-long term facility to support their internalisation process: this initiative represents a “flagship” in the alternative finance segment.
The innovative mechanism is based on the issue of Asset Backed Securities (ABS) guaranteed by a pool of bonds issued by the Elite Companies; the bonds, with a duration of 8.5 years, are in turn fully guaranteed by SACE.
10 Elite companies, with revenues ranging from 20 and 120 million Euros, participated in the first issue: Badinotti Group, Bucci Automations, Fratelli Polli, GFM, Giglio Group, Adriatica Chemical Industry, Magis, Plastica Alfa, Pusterla 1880 and Svas Biosana. The total amount of the first issue was 50 million Euros and Cassa depositi e prestiti performed the role of "anchor investor".
The programme has the following characteristics:
The operation is structured in two phases:
Phase 1 - Each Issuer issues a bond fully guaranteed by SACE
Phase 2 - Bonds guarantee the issue of ABS by a Special Purpose Vehicle (SPV) under Law 130/99
In this way, investors can benefit from a security with “State risk”, thanks to the presence of the SACE guarantee on individual issues, while the Issuers can have access to an audience of institutional investors who are otherwise difficult to reach.