The Camozzi Group has issued a €12.5 million bond guaranteed by SACE and has established a partnership with SIMEST in China.
The export and internationalisation hub of the Cassa Depositi e Prestiti (Cdp) Group supports the development of Camozzi through the subscription of a bond and through equity investment.
The Fondo Sviluppo Export (Export Development Fund) has subscribed a bond for €12,512,000 issued by Camozzi. The 6-year bond is fully guaranteed by SACE and subscribed by the Fund.
The proceeds of the issue will be used to support its development programme on international markets, mainly in: Ukraine, United States, China and Russia.
SIMEST will invest €4.7 million in two companies located in China, near Shanghai, specialised in automation systems components and wholly controlled by the Camozzi Group.
The investment will also have important positive effects in Italy, generating an increase in the demand for components produced in the plants in Northern Italy.
The President of the Group Lodovico Camozzi commented on the double agreement:
"SACE’s support of and SIMEST’s entry into the share capital of the Chinese companies strengthens us from an institutional and financial point of view and will allow us to be even more competitive on international markets."
Fondo Sviluppo Export
Established by SACE and managed by Amundi SGR, Fondo Sviluppo Export opens the capital market to Italian exporting companies thanks to the availability of €350 million (€175 million made available by SACE and the same amount funded by the European Investment Bank, with a guarantee by SACE).
The Fund, for professional investors, is dedicated to investing in secured or unsecured bonds, with fixed or variable rate coupons and repayment in instalments or on maturity, issued by Italian non-listed companies with an export and internationalisation mission. Through the issues subscribed by the Fund, a wide range of activities can be financed:
- foreign direct investments, such as acquisitions, mergers or joint ventures
- research and development investments in Italy
- expenses for the purchase or renewal of machinery and equipment
- communication and marketing.