SACE and Intesa Sanpaolo for Sanlorenzo: 10 million dollars for two yachts for the U.S. market
Deals | 01 September 2015 | SACE
SACE and Intesa Sanpaolo announce today the finalization of two transactions in support of the foreign business of Sanlorenzo, one of the world's leading builders of motor yachts.
In business since 1958, Sanlorenzo is a global boutique company headquartered in Ameglia (La Spezia). It produces custom yachts that are highly personalized and in limited number. In more than a half-century, the shipyard has launched over 600 yachts, each different from the others.
In these transactions, SACE has guaranteed two lines of credit for a total value of 10 million dollars, issued by Intesa Sanpaolo, for the supply of two fiberglass yachts for the U.S. market.
This initiative bolsters and confirms SACE's role in support of the foreign development of Made in Italy excellence and consolidates the relationship between Intesa Sanpaolo and Sanlorenzo, which recently joined in the innovative “Program Filiere” devised by the banking group to improve access to credit and promote the development of excellent production chains in the Italian business system. This project will have a strong ripple effect for the industrial system of Liguria, involving some 700 suppliers in the area for a total of € 1.2 billion in business volume and a potential credit plafond of € 350 million.