Allegrini 2018

Cassa Depositi e Prestiti and UniCredit invest in wine, with Pasqua, Feudi San Gregorio and Masi

The “Basket Bond of Filiera” debuts with three big names of Italian enology (and 21 million euros) and invests a total of 200 million euros
Cassa Depositi e Prestiti and UniCredit invest in wine

The most structured and evolved wine companies are increasingly looking to alternative finance, while financial players and credit institutions are increasingly focusing on high added value agriculture, such as that which produces the best of Italian wine. It is also a sign of confidence in the recovery of a sector in great difficulty due to the pandemic, but whose redemption will be led by its most important brands. This is the background to the first “Basket Bond of the sector”, the program of a total of 200 million euros that Cassa Depositi e Prestiti and UniCredit have launched to finance the development plans in Italy and abroad of companies belonging to strategic sectors of the Italian economy. In particular, the first issue was finalized today, entirely dedicated to the wine sector, one of the products of excellence of Made in Italy in the world. Three leading Italian wine producers inaugurated the program: Feudi di San Gregorio, a company with its heart in Irpinia but vineyards and wineries in different areas of Italy, and Masi Agricola from Veneto (which is also listed on the Aim stock exchange) and Pasqua, a brand of Amarone della Valpolicella and more. Three first-class companies that have individually issued minibonds - at a fixed rate and with a duration of 7 years - raising total resources of 21 million euros to finance their respective investment and development plans on the national and international markets.
Cassa Depositi e Prestiti and UniCredit, acting as anchor investors in the operation, each subscribed 50% of the total amount of these first issues of the program. This closing with a focus on the wine sector will be the first of other potential issues that may be focused on other strategic sectors of the Italian economy.

“We are proud to announce this Basket Bond operation - said Paolo Calcagnini, deputy general manager of Cassa Depositi e Prestiti - which represents a further example of Cassa Depositi e Prestiti’s capacity for financial innovation and allows us to support the growth of companies through specific supply chain programs in a sector that is an ambassador for the excellence of Made in Italy around the world. In addition, the operation has facilitated access to the capital market for companies not usually accustomed to this type of instrument and has strengthened our collaboration with UniCredit following the signing of the protocol in July 2020 and which has already seen us sign a loan of one billion euros in favor of companies particularly affected by the Covid-19 emergency”.
“We are particularly pleased to have dedicated this inaugural operation of the Basket Bond to companies in the wine sector, one of the best representatives in the world of Italian production excellence - added Francesco Giordano, co-CEO Commercial Banking Western Europe UniCredit - and at the same time among the most impacted by the current phase of emergency. We mobilize new and important resources to support the working capital of companies and stimulate investment. The tool allows companies in the sector to access the capital market in an advantageous way, drawing on sources of financing complementary to the banking channel that can be crucial to strengthening value chains, supporting innovation and encouraging diversification in terms of products, markets and sales channels”.
For Antonio Capaldo, president of Feudi di San Gregorio, “this operation strengthens us in our strategic program of growth: it is not easy, in the context in which we live, to look ahead and continue to invest in the quality of products and processes, but the support of two partners such as UniCredit and Cassa Depositi e Prestiti gives us greater energy and enthusiasm. In particular, thanks to this operation, we will invest in the potential production of Dubl, our classic method sparkling wine, which I believe can grow even more than in the past”.
“We have worked on this operation with great conviction together with Cassa Depositi e Prestiti and UniCredit - added Federico Girotto, CEO of Masi Agricola - with whom we have had a very effective partnership for years aimed at supporting the development of important strategic projects for our Group. We are proud of the appreciation received, which we interpret as an implicit recognition of our representativeness in Made in Italy: a further incentive to intensify even more the focus on our values, distinctive skills and deep respect for the territory, also in terms of sustainability”.
“We live with great enthusiasm this opportunity. The issue of minibonds by our company - concluded Riccardo Pasqua, CEO Pasqua Vigneti e Cantine - will give a strong acceleration to the robust investment program in support of the most important projects of our portfolio; after years of vigorous growth, we have plans to strengthen the wine and technological assets, as well as a roadmap aimed at strengthening and expanding the direct distribution presence on strategic foreign markets”.

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