Europa Factor issues Minibonds for a total of 5 million euros to support the investment plan
Europa Factor S.p.A., Financial intermediary registered in the Register pursuant to art. 106 of the Banca d’Italia , with an operating cycle that goes from the purchase of Non Performing credits, to the management and recovery of Low and Non Performing credits on behalf of third parties, today issued two bonds in the form of “minibond” for the total amount of 5 million euros. The securities are listed on the ExtraMOT PRO3 segment of the ExtraMOT market, managed by Borsa Italiana S.p.A..
The debenture loans were fully subscribed – pursuant to article 35, paragraph 1, letter d), of the regulation laying down rules for the implementation of the Consolidated Finance Act on intermediaries, adopted by Consob with resolution no. 20307 of 15 February 2018 – by two professional investors: “Progetto MiniBond Italia Fund” managed by Zenit SGR and ICCREA BancaImpresa.
The issue is made with two separate ISINs, with maturities, respectively, as of December 31, 2024 and December 31, 2026 and interest rates, respectively, equal to 4.9% and 5.15%. The amounts collected through the issue of the MiniBonds will be destined by the Issuer mainly for the purchase of new NPL portfolios and for the investment in professional skills and technological resources.
Europa Factor, founded in 2003 by the Bottone family – which holds its entire share capital – has established itself over the years as one of the main credit servicers, occupying the second place among the intermediaries “ex art.106” independent of banking and financial groups (Source: Italian NPE Market 2019 – July 2019 – PwC Studies Office).
The Company is a historical customer of the BCC of Rome, the bank that supported its growth and which originated the MiniBond operation.
Europa Factor specializes in investment activities in non-recourse NPL credits, having purchased approximately 250 Portfolios (leader in the utilities and telecommunications sector), in credit management and currently manages a total portfolio of loans for a higher nominal value to 3 billion euros (Gross Book Value).
Europa Factor also offers specialized consultancy services to banks and institutional investors on non-performing loans.
The Company closed the year at December 31, 2018 with a profit of 841.8 thousand euros. The 2018 revenues, deriving from the management of the owned NPL portfolios, amount to 12 million Euros, while the revenues developed by the management for third parties amount to 10.5 million Euros, for total Revenues of over 22 million Euros.
2018 EBITDA stands at 3.5 million Euros, with an EBITDA margin of 15.32%. The NFP, at the end of 2018, was equal to 11.8 million Euros.
ADB Corporate Advisory, with a team composed of Mario Bottero (Partner), Emilio Troiano (Director) and Davide Rainero (Senior Analyst), played the role of advisor in the operation, Galante e Associati Studio Legale, with a team composed of the partner Paolo Luccarelli and senior associate Emanuela Gagliani Caputo acted as deal legal counsel, while Securitisation Services S.p.A. (Finint Group) and Banca Finint respectively played the role of Issuing Agent and Paying Agent.
In giving thanks to his collaborators and to all the Advisors who assisted Europa Factor, the CEO Pierluca Bottone stressed: “the relevance of the issue transaction on maturities of up to 7 years is at a time of favorable market for the implementation of our development plan. The entry of new credit volumes – over 300 million NPL at nominal value have already been acquired towards the end of 2019 – will allow the achievement of significant profitability targets.
The consolidation of a financial structure increasingly functional to the specific features of the credit collection activities will allow us to continue to be rewarded by the market in terms of appreciation of our solutions implemented in important Banks, Financial and large Corporates who have privileged us in the relationship. The investment plan of Europa Factor is also addressed with equal intensity to two growth factors that I have always considered crucial: human capital and technological solutions “.
The bond loan regulations and the Admission Document for trading on ExtraMOT PRO3 are available on the Company’s website: www.europafactor.it.
Ing. Valentina Lolli
Tel: +39 06 874095303
***Warning. There will be no public offering of the Company’s financial instruments either in Italy or in any foreign country. This press release has been prepared for information purposes only and does not constitute an investment proposal or offer to the public or an invitation to subscribe or purchase financial instruments either in Italy or in any other country where such offer or solicitation would be subject to restrictions or authorization. by local authorities or otherwise prohibited by law. The offer of the financial instruments mentioned in this press release has not been subject to the approval of CONSOB or any other competent authority in Italy or abroad pursuant to the applicable legislation and, therefore, the financial instruments may be offered, sold or distributed in Italy and in the other member states of the European Economic Area that have implemented EU Regulation 2017/1129 (“Prospectus Regulation”), exclusively under the exemption regime from the application of the provisions of law and regulations regarding public offerings. The financial instruments mentioned in this press release cannot be offered or sold neither in Italy, nor in the United States nor in any other jurisdiction without registration under the applicable provisions or an exemption from the registration obligation under the applicable provisions. The financial instruments mentioned in this press release have not been and will not be registered under the US Securities Act of 1933 or pursuant to the applicable provisions in Italy, Australia, Canada, Japan or in any other jurisdiction.