Basket Bond I
Details
COUNTRY: Italy
REGION: National
PERIOD OF IMPLEMENTATION: 2017
LINK
Goals, Recipients, Beneficiaries
The Basket Bond I initiative was launched to support the growth of SMEs and Mid-Caps by facilitating access to capital markets.
Objectives: The initiative aims to increase company visibility and negotiation power by aggregating several issuers in one financial operation.
Target Organizations: SMEs part of the ELITE community.
Intermediary Organizations: ELITE (structuring and management), Finint (co-arranger), Cassa Depositi e Prestiti and European Investment Bank (anchor investors).
Source of Funding and Investment: Institutional private capital. Total invested: €122 million.
Geographical Coverage: Italy
Eligible Projects / Expenses
Supported Projects and Activities
- Eligible projects include business development, internationalization, innovation, and strategic growth initiatives.
Eligible Cost Categories
- Eligible expenses include investment in innovation, expansion plans, and working capital needs. Participating companies must demonstrate solid business plans and long-term growth potential.
Support
Each company issues its own minibond.
A Special Purpose Vehicle (SPV) aggregates these into a single Asset-Backed Security (ABS) note.
Institutional investors subscribe to this ABS.
Support includes advisory services, streamlined documentation, and digital deal execution via the ELITE platform.
The model reduces issuance costs and offers long-term financing with flexible terms.
Procedure
The instrument was co-developed by ELITE and Finint. Over 60 SMEs were screened, and 10 selected for inclusion.
ELITE facilitated investor onboarding (CDP and EIB), platform digitization (Data Room, order collection), and overall coordination. SMEs accessed the scheme through ELITE’s structured selection and support process.
Status and Results
€122 million raised. 10 companies financed. First systemic Basket Bond model in Italy.
Remarks
Innovative financial aggregation model for SMEs. High replicability. Strong digital integration.
Increased investor appeal through pre-commitment and critical mass.
Contacts
ORGANISATION: ELITE – Euronext Group
CONTACT PERSON: Daniele Pecorella
EMAIL: dpecorella@euronext.comm