March 2022
Solution Bank participates in the reshaping and refinancing of the financial credit lines of Aligros Spa.
Aligros, an Apulian group active for over 50 years in the real estate sector as well as in the construction and food and non-food distribution sectors, has completed a complex operation aimed at redefining its entire financial exposure through a debt restructuring agreement pursuant to art. 67 of the Finance Law.
The transaction was supported by a new mortgage loan provided by Solution Bank and Amco for 12.5 million euros and 2.6 million euros, respectively.
The New Finance enabled the repayment of some of Amco’s lines of credit as well as the repayment of the exposures of the Company’s existing financial creditors, for a total amount of approximately 21 million euros.
The transaction also provided for the rescheduling and rescheduling to 2035 of both the amortization schedules relating to the leasing contracts whose counterparty is MPS Leasing & Factoring and a mortgage receivable claimed by Amco from the Company.
The operation allows the immediate financial rebalancing of Aligros and its definitive safety, also enabling it to play again an active role in the reference market.
The Business Plan envisages the gradual repayment of bank exposures solely through income deriving from core operations, i.e. the management of real estate assets located in the provinces of Lecce, Brindisi and Taranto for commercial and residential tourism purposes.
Brera Financial Advisory, partner of Clearwater International, was Aligros’ financial advisor. For the legal aspects of the transaction Aligros was assisted by Dentons Europe Studio Legale e Tributario while DLA Piper assisted Solution Bank, Amco and MPS Leasing & Factoring. Studio Legale Tombari, D’Angelo e Associati assisted the financial creditors who were reimbursed.