Emilia-Romagna Basket Bond: launch of the 100 million euro programme dedicated to new sustainable investments for SMEs in the region

Emilia-Romagna Basket Bond: launch of the 100 million euro programme dedicated to new sustainable investments for SMEs in the region

Two local companies – Tecnomeccanica and Eco Demolizioni – participated in the initial 8.3 million euro issue 

Cassa Depositi e Prestiti and BPER acted as investors in the transaction guaranteed by the Region’s government

The Emilia-Romagna 100 million euro Basket Bond programme became operational with the inaugural issue of two local companies that have decided to embark on a path of sustainable growth by exploiting sources of financing alternative to traditional credit channels. The initiative was signed in March 2024 and is promoted by BPER Banca and Cassa Depositi e Prestiti (CDP) with a guarantee from the Emilia-Romagna Region.

The operation, which will end in April 2026, envisages an initial issue of 8.3 million euros for two companies selected also thanks to the promotion and support of Confindustria Emilia-Romagna and Confindustria Romagna: Tecnomeccanica S.p.A. and Eco Demolizioni S.r.l. Società Benefit. Using the resources received, the two companies will be able to implement their respective sustainable development projects. 

Within the initiative, BPER Banca and CDP will invest equally in minibonds issued by small and medium-sized enterprises that join the programme. More specifically, the investment in the basket of minibonds will be made by a special purpose vehicle (SPV), which in turn will issue securities to be acquired by BPER Banca and CDP. Moreover, the instrument is characterised by a longer duration compared to traditional maturities (the securities can have a duration of up to eight years including a pre-amortisation period of up to 24 months), less stringent rules on hedging and reduced interest thanks also to the support of the Emilia-Romagna Region's guarantee. With these innovative characteristics, companies will be able to develop and implement even the most complex projects requiring longer durations.

The Basket Bond programme”, commented the Vice President of the Region with responsibility for Economic Development, Vincenzo Colla, “benefits from the public guarantee provided by the Emilia-Romagna Minibond Guarantee Fund, financed with European public resources – RP ERDF 2021-2027 – and able to cover up to 100% of losses within the maximum limit of the guarantee granted. Businesses will therefore be able to access financing at competitive economic conditions in order to support growth projects related to energy upgrades and the circular economy”.
Andrea Nuzzi, Head of Enterprises and Financial Institutions at CDP, noted: “Together with the Region and BPER Banca, we have launched a critical initiative in support of small and medium-sized enterprises in Emilia-Romagna seeking to embark on a path of growth using alternative finance instruments. It’s an opportunity to access new resources on more favourable terms and with typically longer maturities than traditional forms of credit. With this operation, CDP confirms its closeness to local communities and its leading position in the Basket Bond market”.
This transaction is part of the wide range of financial solutions that BPER offers Italian companies”, added Marco Mandelli, head of BPER's Corporate & Investment Banking division, “including through innovative products that allow companies to access the capital market in a simplified manner. This issue, structured together with CDP, makes it possible to offer liquidity on competitive terms and with an average maturity longer than what is normally used for medium- and long-term unsecured bank loans”.

For more information on how to participate, click here www.basketbondemiliaromagna.it