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Italian Wine Brands launches bonds for 130 million

Ammunition to make acquisitions "in the fragmented Italian wine&food market"

The board of Italian Wine Brands, considering the favorable market conditions, has approved the issue of a senior, non-convertible, unsubordinated and unsecured bond loan for a nominal amount between a minimum of 100 million and a maximum of 130 million of Euro. The duration of the loan is six years from the date of issue, with a fixed interest rate of not less than 2.00% gross on an annual basis and a full "bullet" repayment at maturity. It is expected that, "subject to obtaining the necessary authorizations and compatibly with market conditions", the offer of the bond loan may be completed by next 30 May. The group explains that the issue of the loan is functional '"on the one hand, to provide the company with the necessary resources to support the group's growth strategy through external lines and, in particular, for the acquisition and consolidation of target companies in the ''scope of the fragmented Italian wine & food market, thus strengthening its product offer between categories falling within Iwb's core business, and, on the other hand, to diversify the sources of financing and, where deemed appropriate, rationalize the lines of financing existing in a context that does not place substantial limitations on the dividend payment capacity of the group".

According to the president Alessandro Mutinelli , the group wants to be an "aggregating leader and in this regard we are concretely evaluating the acquisition of some wineries that share our same vision, our values and the ambitious goals we set ourselves".

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EFA News - European Food Agency
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