CDP Group and Piaggio: € 30 million for overseas growth

Fondo Sviluppo Export sponsored by SACE subscribes to the 5-year bond issued by the historic producer of the Vespa

Rome July 6, 2017

CDP Group confirms its support for the growth of Italian businesses with a new transaction in favour of Piaggio Group, the historic Italian motor vehicle brand.

In fact, SACE, which is part of the one door of export and internationalisation along with SIMEST, supported Piaggio in issuing a long-term bond with an overall value of €30 million. The Fondo Sviluppo Export subscribed to the securities which are managed by Amundi SGR and were conceived by SACE to support businesses in raising capital on the bond market.

Established in Sestri Ponente (Genoa) in 1884 by Rinaldo Piaggio the company’s main business was wood furniture and furnishings for the naval sector. Over the years the company has gone through a number of transformations: from furnishings for ships to repairing trains and aeronautical vehicles, after the Second World War, the business finally found its place in the motor vehicles sector with the construction of the first “Vespa” model in 1946.

Thanks to this new, 5-year issue, the Piaggio Group can strengthen its market position overseas and expand into new markets. Even in this way #wepromotethefuture of Made in Italy.