UNICREDIT UNDERWRITES A 10 MILLION EURO MINIBOND ISSUED BY ALMA PETROLI
UniCredit has underwritten a 10 million euro bond issued by Alma Petroli S.p.A., a company specialising in crude oil refining. This minibond is 50% guaranteed by the Central Guarantee Fund and is intended to support the industrial group in its path of business growth and development.
Alma Petroli S.p.A. is one of the European leaders in the production of high quality bitumen for road and industrial use obtained from the refining of crude oil.
Their product offering consists of a complete portfolio of bitumen types characterised by tailor-made production, coupled with high standards of quality and service. The refinery, designed and built beginning in 1957, is part of the "Petrochemical District of Ravenna" and is located on the left bank of the Candiano Canal; this strategic position allows it to handle raw materials and finished products by both land and sea.
The financial resources resulting from the operation will be used to support Alma Petroli S.p.A. in the development of its business activities, including the major investment plan for the period 2020-2024. The operation, designed to meet the needs of the company, has a duration of 72 months and was developed and defined remotely during the most intense period of the Covid-19 emergency, thanks to the high level of digitisation employed by UniCredit and Alma Petroli.
Sergio Bovo, Chief Executive Officer of Alma Petroli, stated that "This operation represents an important step in the development of the company, which continues to invest and pursue growth plans even in a complex environment like the current one. This structured finance operation allows Alma Petroli to simultaneously implement a form of debt capital market financing as an alternative to the traditional banking system. My thanks and those of the company's entire top management go to the UniCredit Ravenna / North Central Corporate Area for having believed in and supported our medium-term development plan and to everyone at Alma Petroli who worked on this operation.”
“With this operation”, commented Andrea Burchi, Regional Manager of UniCredit North Central, “we confirm our commitment to support the growth plans of companies in the area, both with traditional forms of financing and with alternative financial instruments such as minibonds, which are increasingly being used by major companies such as Alma Petroli. By mobilising substantial resources in support of SME development projects, minibonds also enhance UniCredit's full operational capability across all the financing solutions provided for by the Liquidity Decree and are functional tools for the post-Covid-19 recovery.”
UniCredit is a leading provider of innovative financing solutions for SMEs in Italy, with over 400 million euros in minibonds underwritten or arranged over three years for about 60 Italian SMEs.
