SACE (CDP Group) and Amundi SGR have supported a € 40 million bond issued by Maire Tecnimont to fund its development plans.
The issue, earmarked to support investments in new technologies and geographical areas, matures in six years and is structured in two tranches of equal amount and duration: the first, subscribed through the Sviluppo Export Fund and fully guaranteed by SACE; the second subscribed entirely by Amundi SGR.
“We are proud to collaborate once again with a world-class Italian technology player like Maire Tecnimont – declared Bernardo Attolico, SACE's Debt Capital Market Manager –. With this initiative, we are confirming our commitment to support major Italian corporates competing worldwide, going beyond the traditional financial and facilitating the participation of leading institutional investors”.
“The subscription of the Marie Tecnimont bond issue is the first transaction realized in Italy by the pan-European Private Debt fund managed by Amundi – adds Pierre-Henri Carles, Head of Alternative & Real Assets at Amundi SGR – and this proves our commitment in the selection of outstanding firms, leaders on a global basis that operate in Italy.”
With this initiative SACE – that together with SIMEST forms the Export and Internationalization Hub of CDP Group – confirms its ability to support the companies that aim to grow on international markets.
The deal was assisted by Société Générale acting as arranger and by Legance and GOP acting as law firms for the investors and the company respectively.
The Sviluppo Export Fund
Promoted by SACE and managed by Amundi SGR, the Sviluppo Export Fund has the objective to open the capital markets to Italian exporting companies. It has € 350 million total assets: € 175 million are provided by SACE and an equal amount is financed by the European Investment Bank and guaranteed by SACE.
The Fund invests in secured and unsecured fixed-income securities with fixed- or floating-rate coupons and redemption by installments or at maturity, issued by unlisted Italian companies with an export and internationalization calling. Companies in all production sectors, except financial and real estate, are eligible for “Sviluppo Export” investments, for the purpose of financing a broad spectrum of activities related to exporting and internationalization or projects of strategic importance for Italy (acquisitions, mergers or joint ventures, R&D investments in Italy, purchase or renewal of plant and machinery, as well as communication and marketing activities).