Italian copper products producer KME Group has finalised a €103mn credit line to fund the group's capital investments and future international acquisitions via mandated lead arrangers MCC - Mediocredito Centrale (Unicredit Group) and Sace.
Under the terms of the agreement, Sace will guarantee 70% of the amount, with an average preamortisation period of 12 months and repayment due in eight years in semiannual instalments.
The deal was noted by the Italo Romano, the group's general manager and CFO, as being particularly significant as KME was able to obtain financing without requiring to provide collateral and on more favourable terms than in previous years, despite the uncertainty about global financial stability.
The deal was structured and implemented by Pierpaolo Di Fabio, KME’s corporate finance director, along with the export department of Mediocredito Centrale and the business Italia corporate division of Sace.
"This transaction underscores the important role that our bank and the UniCredit Group are playing in promoting and supporting Italian businesses in their international investment programmes and provides a prime example of how the banking system can work alongside a major industrial organisation such as KME as it seeks to expand and consolidated its position in the international markets,” comments Cesare Caletti, Mediocredito Centrale’s chief executive officer.
Alessandro Castellano, Sace’s chief executive officer adds: "The guarantees provide by the Sace Group enable businesses to access credit more easily and become more competitive. This transaction is a concrete example of the support that we provide to Italian companies in their internationalisation efforts, with the goal of creating a model of success for the entire system.”
Reader Comments