Sace, how Guarantee Italy will work for corporate bonds

Sace, how Guarantee Italy will work for corporate bonds

All the details on the Sace news with Italian Guarantee also for corporate bonds.

The operations of Garanzia Italia , the Sace instrument envisaged by the Liquidity Decree, also start for corporate bonds.

The announcement is contained in a press release from Sace with Abi (an association that brings together banks) and Aifi (the association of private equity and venture capital operators).

Here are all the details.

SACE NEWS ON CORPORATE BONDS

Sace, also following the comparison with Abi and Aifi, has defined the terms and conditions governing the release of the guarantees of the public company controlled by Cdp for the benefit of the underwriters of bonds issued by Italian companies, structured through banks, funds debt and financial institutions, and which have received a minimum rating of BB-.

THE BOND CONSTRAINTS

Under the provisions, the bond loans must be destined to support activities in Italy, including working capital and investments.

THE DURATION OF OBLIGATIONS

The bond, to be fully subscribed, must have a duration of no more than 6 years, with the possibility for the beneficiary companies to take advantage of a pre-amortization lasting up to 36 months.

WARRANTIES

The guarantees will be released online through the dedicated portal developed by Sace, where the banks and financial institutions concerned – once their preliminary investigation on the request to organize the bond issue has been completed – will be able to enter their applications and obtain the related guarantees, counter-guaranteed. by the state, Sace assures, in a very short time.

SACE'S COMMITMENT TO ABI AND AIFI

Sace, concludes the note, together with Abi and Aifi will continue to work to make the instrument for guaranteeing debt securities even more efficient and maximize its advantages for businesses and the capital market.


This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/sace-come-funzionera-garanzia-italia-per-le-obbligazioni-societarie/ on Mon, 03 Aug 2020 05:33:11 +0000.