Things
The measure intends to facilitate and support access to forms of alternative credit by Lombardy supply chains aimed at implementing supply chain projects in the following areas: – support for the strengthening of business networks and aggregations; – support for the adoption of sustainable production models through the issuance of Minibonds by issuing companies and the implementation of a securitization and placement operation with investors.
Who is it aimed at?
It is aimed at SMEs (excluding Micro-enterprises) belonging to a Supply Chain that present, through the Lead Company, a Supply Chain Project with positive effects on the Supply Chain and which envisages, during the submission of the Application for participation, the issuance of Minibonds by at least three companies.7 The measure may be extended to Mid Caps following any notifications of regional or state aid schemes with related Decision of the European Commission. The Potentially Issuing Companies must be duly established, registered and active in the Company Register (as resulting from the Chamber of Commerce certificate) in the form of joint-stock companies, limited liability cooperative companies or joint-stock companies and with at least two financial statements filed on the date of submission of the Request. of membership; they must have one or more operational offices, the subject of the intervention, in Lombardy (detectable in the Chamber of Commerce certificate) at the time of granting the Guarantee; at the time of submitting the Application they must be in possession of a valid rating issued by an ECAI Agency, at least equal to BB on the Standard & Poor's scale (or equivalent) or alternatively, in the absence of a rating, not have made operating losses in more than one of the last two financial years and, on the basis of the last approved financial statement, comply with the following indicators:• Turnover: minimum euro 5 million• NFP/EBITDA: < 5.0x• NFP/PN: 4%. In any case, the Potentially Issuing Companies must be in possession of a valid rating issued by an ECAI Agency, at least equal to BB on the Standard & Poor's scale (or equivalent) according to the timing indicated by the Arranger and in any case before the granting of the Guarantee.
What does it predict
The regional relief consists of a Guarantee to cover 100% of missed payments of principal and interest (including defaults) on each Minibond, within the maximum limit of 25% of the amount of each Minibond Portfolio and a reimbursement contribution of the costs incurred for the structuring and issuing of the Minibonds, both from the BB Fi Fund. The. Each Minibond has a minimum value of 1,500,000.00 euros and a maximum value of 10,000,000.00 euros, with a maximum nominal duration of no more than 7 years including any pre-amortization of no more than 2 years.
