ANNOUNCEMENT 10 Feb 2021
In February 2021, Italy's national promotional bank Cassa Depositi e Prestiti subscribed, with SACE's guarantee, to a portion of a bond issue floated by Newlat Food SpA, an Italian company in the agribusiness sector, in order to support its expansion abroad and in Italy.
NUMBER OF INTERVENTIONS
CPC, press release of 10 February 2021, Cassa Depositi e Prestiti sostiene i piani di crescita del Gruppo Newlat Food in Italia e sui mercati internazionali:
Newlat SpA: https://www.newlat.it/
On 10 February 2021, the Cassa Depositi e Prestiti (CDP), the Italian national promotional bank, underwrote a EUR 60 million portion (approx. USD 83 million) of the bond issued by Newlat Food SpA, which has a total amount of EUR 200 million and a duration of six years. This bond subscription, also guaranteed by the Italian Eximbank SACE, aims to support its growth strategy through the acquisitions of potential targets in the food and beverage industry in order to continue its expansion abroad and the consolidation of its leadership position in the market.
The Newlat Food Group is an Italian leading agribusiness company in the production of milk and dairy products, pasta, gluten-free products and baby food. It operates 15 production facilities in Italy and Europe, and the largest part of the firm's revenues come from Italy, followed by Germany.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.