April 2022
The IrgenRE group company that owns and manages the Maximall Bari Retail Park has issued two loans represented by debt securities underwritten, respectively, by UniCredit and Solution Bank. With this transaction, the group diversifies its funding sources and takes a first step into capital markets.
Irgen RE Bari S.r.l. has completed in recent days the issuance of two loans represented by debt securities for a total value of 15 million euros, subscribed, respectively, by UniCredit and Solution Bank.
Each loan accrues interest at a floating rate and has a duration of 7 years. The funds will be used, among other things, to continue the group’s development in the Italian market.
This issue represents an important operation in the world of the Italian capital market for mid-cap companies, because it focuses on a specific real estate asset, valued by investors with an approach typical of real estate and with a security package specific to the same industrial sector.
“For IRGENRE Group, the transaction marks the start of a process aimed at diversifying its sources of funding and familiarizing itself with the world of capital markets in order to grow not only from an industrial point of view but also from a financial one,” commented Ulderico Barletta, Chief Financial Officer of IRGENRE Group.
UniCredit acted as Placement Agent. White & Case acted as legal advisor to the issuer and Legance – Avvocati Associati as legal advisor to the investors. Loan Agency Services acted as Security Agent