The initiative aims to finance growth in Italy and abroad of companies operating in strategic sectors for the Italian economy
ILBE (“Iervolino and Lady Bacardi S.p.A.”, previously called “Iervolino Entertainment S.p.A.”), a company engaged in the production of cinematographic, web and television content for the international market and listed on the AIM Italia stock exchange, announced that it had successfully completed the issuance of a bond loan for a total principal amount of €10,000,000.00. The resources collected will be used by the company for the production of films and audiovisual works.
The issue of the bond loan is part of the “Supply Chain Basket Bond” operation, the €200 million programme promoted by Cassa Depositi e Prestiti and UniCredit with the aim of financing the national and international development plans of companies in strategic sectors of the Italian economy.
Specifically, the bond issued by ILBE is dedicated to companies operating in the Culture sector.
The Bond Loan has a duration of seven years with semi-annual instalments and is of the amortising type with a pre-amortisation period of 12 months. The bonds will bear interest at the gross nominal annual fixed rate of 2.55%, the first coupon to be settled in advance, about the fifteenth day following the date of issue, and subsequent coupons in arrears on a six-monthly basis.
Andrea Iervolino, president of Iervolino and Lady Bacardi Entertainment
S.p.A. stated: “By participating in this operation promoted CDP and Unicredit, our company is recognised as a creator of value in the Culture sector, and as a representative of quality Made in Italy in the world of film production. We attach great importance to this initiative, which identifies our business as strategic for the country’s economy, and we are happy to be able to take part by collecting resources to grow in Italy and abroad”.
For the bond issue transaction, ILBE was assisted by DLA Piper.