Banca Akros advisor and fundraiser for the Anthilia BIT Minibond fund: 100 million for SMEs

The newly launched ‘Anthilia Bond Impresa Territorio’ (Anthilia BIT).

A fund for Italian SMEs investing in minibonds

With an actual initial availability of Euro 100 million, the fund will immediately support the development and internationalisation processes of the Italian SME production base.
Banca Popolare dell’Emilia Romagna, Banca Popolare di Milano, Banca Popolare di Sondrio, Credito Valtellinese, Banca Carige, Banca Carim and Banca Etruria are the partners in the initiative.

 

Milan, 13 November 2013 – Today, Anthilia Capital Partners and Banca Akros announced the launch of ‘Anthilia Bond Impresa Territorio (Anthilia BIT)’, a fund for Italian SMEs that invests in minibonds.

Thanks to the commitment of a group of local banks, coordinated by Banca Akros, the fund is the first of its kind that can already count on an initial effective availability of Euro 100 million. This money is ready to be invested in the development and internationalisation processes of the Italian SME production base.

The project was created thanks to the support and partnership of seven of Italy’s leading regional banks, namely Banca Popolare dell’Emilia Romagna, Banca Popolare di Milano, Banca Popolare di Sondrio, Credito Valtellinese, Banca Carige, Banca Carim and Banca Etruria, which have fully subscribed to the Euro 100 million of Anthilia BIT.

Anthilia Bond Impresa Territorio is a source of financing complementary to bank credit for SMEs and a significant opportunity to support the growth and development of companies on global markets.

Distinctive elements of the project are as follows:

1. First mover

Anthilia Bond Impresa Territorio is the first fund that has already made available the first Euro 100 million to be used for creditworthy projects, ideas and entrepreneurship.

2. System operation linked to the local area

Anthilia Bond Impresa Territorio has a strong systemic connotation thanks to the involvement of seven of Italy’s leading regional banks, which ensure a diversified and widespread presence alongside SMEs throughout the country. The banks themselves will directly invest at least 10% of the amount in the proposed issues.

3. Guarantee of independence

Anthilia Bond Impresa Territorio involves several partners who operate without conflicts of interest. Anthilia Capital Partners, as independent fund manager, is the sole manager of the fund and guarantees the interest of all investors.

In detail, Anthilia Bond Impresa Territorio is a closed-end private debt fund reserved for qualified investors. It will invest in debt instruments, mainly minibonds issued by SMEs resident in Italy. It will have a maximum duration of 10 years, with a starting size of Euro 100 million already subscribed. The fund is promoted and managed by Anthilia Capital Partners Sgr and placed together with Banca Akros as Arranger of the transaction.

Partners in the initiative will include CRIF Rating Agency, which will express an opinion on the proposed Issuers, assigning them a rating, and Studio Legale Orrick, which will support the Issuer with the admission of the bonds to Borsa Italiana’s ExtraMot Pro market.

“Thanks to the presence of banks operating in different areas of the Country,” commented Marco Turrina, Chief Executive Officer of Banca Akros, “the Fund will enable participating banks to offer their customers transactions larger than those normally permitted by their own capital and concentration limits, and to obtain a broad geographical and sectoral diversification of investments while reducing portfolio risk. The Fund’s operational and organisational model will also include, for the protection of all investors, the establishment of a committee with advisory functions whose members will be appointed by the banks participating in the first closing of the Fund and by the other main investors who will want to join later.”

“I would particularly like to emphasise,” added Giovanni Landi, Senior Partner of Anthilia Capital Partners, “that the ‘Anthilia Bond Impresa Territorio’ fund can effectively count on at least Euro 100 million that can be invested immediately in Italian SMEs’ projects. This instrument will enable our SMEs to find more financial support and diversify their sources of finance, accompanying them in the development of interesting projects and entrepreneurship. The presence of the main regional banks, the independence of the various parties involved and the ability to work alongside entrepreneurs in individual areas make this project the first concrete and distinctive response to the opportunities opened up by the legislator to create a minibond market. ‘Anthilia Bond Impresa Territorio’ is a concrete sign of how the Italian asset management industry is entering for the first time into a direct relationship with the SME production base, thus fostering an increasingly virtuous and synergistic relationship between entrepreneurs and savers.”

 

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