- European Investment Bank (EIB) signs EUR 200 million loan agreement with Cassa Depositi e Prestiti (CDP), it is the first EIB credit line to Italian mid-caps through CDP.
- Financing available under advantageous conditions to all sectors in the Italian business environment, but with a focus on RDI, manufacturing and agri-food.
The EIB and CDP have signed a EUR 200 million loan agreement to promote lending to Italian mid-cap companies. The EIB funding will be on-lent to the final beneficiaries either through the subscription by CDP of mini-bonds that these companies would emit, or in the form of standard lending.
“The collaboration with CDP goes back a long time.” commented Andrea Clerici, head of the EIB’s Rome office. “However, this is the first time that the EIB partners with CDP to specifically support midcaps. These companies are trying to differentiate their funding sources, for example through the emission of mini-bonds, which are indeed on the rise, and we think this is a positive development for the market as a whole.”
In total, CDP will support up to 20 mid-cap companies in Italy through this loan. As a rule of thumb, the EIB financing can be used to cover only 50% of any supported project by CDP.