Tuesday, 29 June 2021

The loan is part of the Bank's Basket Bond Program in partnership with ELITE to support the most virtuous Italian SMEs

Irpinian Company Vitillo SpA will issue a bond for an amount of 10 million euros expiring in June 2028, to sustain the growth of Vitillo Group, joining the Intesa Sanpaolo Basket Bond program, in partnership with ELITE, Borsa Italiana private market, which nowadays is part of Euronext.

In fact, the innovative Basket Bond system satisfies the financial support needs of companies, in a medium to long-term horizon, while also guaranteeing adequate flexibility for development and growth programs.

"The issuing of the minibond is part of a logic of further strengthening of our Group which is committed, on one hand, to a path of international development through the consolidation of its foreign subsidiaries and, on the other, to an ambitious investments plan aimed to technological innovation of process and product. The second phase of our Strategic Plan will see us engaged in a growth by external lines. In a logic of completion of the product range and services, offered to strengthen the mission as a supplier of high quality "integrated hydraulic solutions" , especially in the sector of OEM ”, comments the Chairman of the BoD, Eng. Antonio Vitillo, who wanted to underline "the attention that Intesa Sanpaolo, its historical partner, has shown once again to the needs of our business group". Eng. Vitillo specified, "We hope that Intesa Sanpaolo can be our privileged partner in the further development of the Group which, according to our strategic plan, provides for access to the AIM quotation with the goal of strengthening our growth capacity also by using venture capital ".

"The basket bond issued by Vitillo company represents an important strategic operation for the future of the company and a strong signal of economic recovery in Campania region - admits Giuseppe Nargi, Regional Director of Campania, Calabria and Sicily of Intesa Sanpaolo - This type of issuing is an alternative finance tool that the Group has made available to SMEs, in partnership with ELITE Gruppo Borsa Italiana, to diversify the sources of economic support and strengthen to seize business opportunities in new markets. The operation further confirms the potential of this area and Intesa Sanpaolo's willingness to support it with the most innovative tools and all the financial and advisory support that only a bank with our size and solidity can provide ".

Intesa Sanpaolo acted as structurer of the operation, making use of the specialist desk of Extraordinary Finance from Banca dei Territori. The bonds have been fully subscribed by Intesa Sanpaolo. Intesa Sanpaolo Group and Vitillo have been assisted by the Grimaldi Law Firm. Vitillo S.p.A. has been assisted in all phases of the bond issue by Palermo & Partners Advisors STP, which acted as a financial advisor to the Irpinian Company. The role of Service Center and Calculation Agent was performed by Loan Agency Services S.r.l ..




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