Rome, 22 December 2022
Gardant, Italy’s market leader in the credit management sector both as servicer and investor, with over EUR 44 billion (GBV) under management and primary focus on SMEs and corporates, has been appointed servicer, corporate servicer, calculation agent and EIB guarantee monitoring agent of the basket bond programme launched for the first time in Italy by UniCredit and Cassa Depositi e Prestiti (CDP), for a total value of at least EUR 100 million intended to finance sustainable development projects of the country’s SMEs.
“We are very proud to take part in this operation aimed at financing the sustainable development plans of small and medium-sized Italian companies, which often do not have the in-house resources required to embark on ESG projects,” Alberto De Maggi, Group Coo and CEO of Master Gardant, says. “As a servicer, we can indeed make available a full range of skills, professionals and experience gained in a variety of fields.”
“With this initiative, we have once again proven that we represent a pole of excellence in Italy, also in business support activities and, specifically, in special areas such as sustainability, an increasingly pivotal issue in the development strategies of companies,” Paolo Peruzzetto, Head of Business Development, says. “We are proud of the development of our Group, which, in addition to being one of the leaders in the management of impaired credit, is also making a significant name for itself in offering complex solutions dedicated to companies in the country.”
CDP and UniCredit have each subscribed for 50% of the total amount of the programme, which also benefits from the guarantee of the European Guarantee Fund (EGF) managed by the European Investment Bank Group (EIB), to cover 90% of the losses incurred on individual minibonds and up to a maximum of 35% of the total portfolio.
The first tranche of issues amounts to EUR 48 million and is to finance eight Italian companies: Comat Servizi Energetici (EUR 12 million minibond), Fitt (EUR 10 million minibond), Lariotex (EUR 8 million minibond), G.D.L. (EUR 6 million minibond), Ferretto Group (EUR 4 million minibond), Autuori Group Logistics (EUR 3 million minibond), Studio Progettazioni Industriali (EUR 3 million minibond) and Compagnia Manifatture Tessili (EUR 2 million minibond). Each of these companies issued minibonds with a six-year maturity, raising resources to support their respective growth and development plans, in Italy and abroad. Each company will strive to improve the sustainability scoring assigned by Cerved Rating Agency, with monitoring starting from the third year after the issuance.
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