Masi Agricola: Funding for 40 million euros from a pool of top banks. Unicredit first

Today more than ever, a solid business base is necessary to obtain liquidity from banks. Masi Agricola is one of the most important companies in Valpolicella, and beyond, led by the Boscaini family. Thanks to financing, it has recently inaugurated its new “Experiential Hub” Monteleone 21. The company has signed a medium-to long-term financing agreement for a total of 40 million euros with a pool of leading financial institutions including UniCredit (also acting as agent bank), Banco BPM, Cassa Depositi e Prestiti, Crédit Agricole Italia, Banco di Desio e della Brianza, and Valpolicella Benaco BCC Società Cooperativa. The agreement provides for a ten-year repayment plan and a final, 10 million euros “balloon” payment. The “Financing Agreement” is aimed at “optimizing Masi's financial structure”, a statement explained, “by supporting the investments that have been made over the past few years, including the recently inaugurated Monteleone21 Visitor Center, and enhancing the company’s ability to generate cash through management operations. The new credit line allows Masi (which registered revenues for 66.8 million euros in 2024, and 29.3 million euros in the first six months of 2025) access to additional resources to support its development plan, in the medium/long-term horizon, and greater financial flexibility”.
“With this transaction”, commented Federico Girotto, CEO of Masi, “we are consolidating our financial structure, strengthening our long-term stability and sustainability, in line with the strategic and growth objectives of the company and the group. We would like to thank the pool of financial institutions - and Unicredit as agent bank - for the trust they have placed in us, which we also interpret as a positive attitude towards the Italian wine sector at this time of change and challenge”.
The financing, explains Masi, one of the very few Italian wine companies listed on the stock exchange, “benefits from a guarantee issued by a leading publicly owned insurance group, covering 50% of the total amount, as a public support measure for Italian companies”.
Going into further detail, Masi explains: “It should be noted that, in the context of the transaction, the existing medium/long-term debt will be repaid in full. The effectiveness of the loan agreement and the subsequent disbursement of the loan amount are subject to the fulfillment of certain conditions precedent, relating both to the delivery of technical documents to the agent bank (UniCredit) and to the issuance of a guarantee by a leading publicly owned insurance group. The conditions precedent are expected to be fulfilled by the end of September; the market will be duly informed of this circumstance. The financing agreement provides for the company to comply with standard financial covenants and disclosure and management commitments, including compliance with certain financial parameters and a commitment not to distribute profits/reserves beyond the permitted distributions, which are limited to a maximum of 50% of the profit for the year as reported in the latest financial statements; the absence of significant events; compliance with the financial parameters set out in the loan agreement; and the allocation of an amount at least equivalent to that distributed to the early repayment of the loan itself”.