The Campania Bond Guarantee programme, an innovative financial instrument promoted by the Campania Region, through the in-house company Sviluppo Campania, which has enabled the activation of loans, through the multiple issuance of Minibonds constituted in the portfolio (“Basket Bonds”), assisted by a public guarantee, covered by the resources made available by the European Cohesion Policy of the Campania Region, comes to an end with 90 small and medium-sized enterprises from Campania participating and around 200 million raised.
The Programme has proven to be a successful experience for the Campania Region, thanks in particular to the confidence of the local business community in the innovative finance instrument. The Region, in fact, holds the highest number of issues in Italy through Basket Bonds.
Through the financial instrument, local companies finance the purchase of new machinery, the modernisation of plants, new investments in research and development and the increased need for working capital to carry out growth programmes aimed at supporting the expansion of production activities.
With regard to the overall operation of the two editions of the Campania Bond Guarantee, the sectors most involved were manufacturing with 20 SME issuers for 42 million, agri-food with 13 issuers for 27.5 million and digital with 10 issuers for 24 million. The following are among the other sectors involved: health, energy, logistics/transport, clothing, construction/infrastructure, trade and automotive. As for territorial distribution, the most active provinces were those of Naples with 47 SME issuers for 107.8 million euros and Salerno with 20 issuers and 46.4 million, followed by Caserta, Avellino and Benevento.
The program has also allowed companies to equip themselves with a balanced mix of resources subdivided into tangible investments (land, property and plant, machinery and equipment), intangible investments (patent rights, licences, know-how or other forms of intellectual property, including the transfer of property rights in undertakings provided that such transfer takes place between undertakings not belonging to the same group) and working capital.
Mediocredito Centrale (MCC) and Banca Finint acted as arrangers in the project, while Cassa Depositi e Prestiti (CDP) and MCC itself acted as investors, underwriting the issues on an equal footing. Grimaldi Law Firm and ELITE – Euronext Group were also involved for the first time, respectively in legal activities and in promoting the initiative on the ground, which also took place with the active support of the ELITE Desks of Confindustria in Campania.
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