A 10-million-euro bond to develop Ledoga. Intesa SanPaolo as underwritten a 7-year loan of 10 million euro in value to support the growth of Gruppo Silvateam. The company based in San Michele Modovì (Cuneo province) is specialize din the production of vegetable tannins for tanning. It has circa 700 employees, half of which are located in Italy.
10-million-euro bond with Intesa SanPaolo
Ledoga/Silvateam has underwitten the 10-million bond thanks to Intesa SanPaolo’s Basket Bond initiative. The bank launched this partnership with ELITE, the international platform of the LSE, London Stock Exchange Group. ELITE’s goal is to accelerate companies’ growth via an innovative development program focused on organizational and managerial aspects. The Basket Bond system, in fact, aims at satisfying the medium-long term financial needs of companies. Silvateam has been a part of ELITE’s excellence network since 2018.
“The reason why we decided to utilize the Basket Bond tool – explains Andrea Battaglia, CEO of Ledoga -, is that the company is making significant investments to support its development plan. We believe it correct to continue the efforts by supporting our self-financing activities with an external source that is different from the traditional options, so that we may make our organization more financially efficient”.