Cassa Depositi e Prestiti has provided funding for Codess Sociale Società Cooperativa Sociale Onlus, a specialist in the management of social welfare, health and educational services, underwriting a 10 million euros mini-bond, with a share of 5 million.
The transaction, which also involved Banca Finint, will finance Codess acquisitions and initiatives, to strengthen their positioning in Friuli-Venezia Giulia. It will also support the maintenance of facilities that they already manage.
With over 40 years' experience, Codess Sociale operates in the childhood, physical and mental disability and geriatric sectors, with about 200 facilities and services. In addition, the cooperative manages 2000 beds, providing assistance for non self-sufficient elderly people.
With over 4000 working associates, Codess has a turnover of over 150 million euros and is active in 11 Italian regions, mainly concentrated in Veneto, Lombardy and Emilia-Romagna. The Group recently strengthened its international presence, with acquisitions of facilities for the elderly in the United Kingdom, adding to their activities in China and Slovenia.
This transaction confirms the CDP Group's commitment to support Italian enterprises, especially those who are active in the public value sector, responding to changes and needs in the social reality of the country.