UniCredit subscribes a 10 million euro minibond issued by the company De Angeli Prodotti from Padua
calendar_today Wednesday 16 October 2019
UniCredit has signed a 10 million euro minibond issued by De Angeli Prodotti Srl
UniCredit has signed a 10 million euro mini-bond issued by De Angeli Prodotti Srl, a company based in Bagnoli di Sopra (Padua), the company operates in the energy sector, for which it produces a wide range of copper and aluminum conductors, alloys and composite materials.
The 7-year bond issue, non-convertible and non-subordinated, is aimed at supporting the company’s growth strategies. More specifically, the new resources made available will provide financial support for the investments scheduled by De Angeli Prodotti for Research and Development activities and for the expansion of the product portfolio.
“With this new subscription, UniCredit’s action continues to support the growth strategies of the most dynamic entrepreneurial realities in the North East – commented Francesco Iannella, North East Regional Manager of UniCredit -. The mini-bond issued by De Angeli confirms that this financial instrument is the most effective lever of “alternative funding” available to the diversified northern Italian industrial and manufacturing system“.
“De Angeli Prodotti is committed to the extensive energy transition process going on all over the world to favor decarbonisation and to contain the climate change – underlined Luca Mora, President of De Angeli Prodotti – The connection of multiple intermittent sources of energy production renewable requires a more branched, safe and flexible electricity network, which can be achieved thanks to more ecological and performing conductors and with the support of digitization The Mini-bond subscribed by UniCredit will favor the development of new advanced technological solutions dedicated to the integration of renewables in the transmission grid and to the success of the E-Mobility“.
De Angeli Prodotti closed the 2018 with a turnover of 150 million euros, of which 50% generated by sales on foreign markets, with a growth of 37% over the previous year. At the two production and service centers of the Group in Italy and France, 400 employees currently operate, for a total production of approximately 35,000 tons of conductors.
The operation was carried out by the Corporate team of the North East Region of the Bank, led by Daniele Cesaro, and finalized by the Padova Sud and Rovigo Area.