CSA Group, a Rimini-based company active in environmental and food chemistry and microbiology, has issued the two minibonds totaling €950,000 maturing in 2028. Advisor to the issuer, arranger, and process coordinator is Frigiolini & Partners Merchant, also the owner of the crowdfunding portal Fundera on which the bond was placed.
In detail, a €600,000 bond matures in July 2028, pays a coupon of 6.27 percent, and is backed by a guarantee of up to 80 percent granted by the SME Guarantee Fund, while the other €350,000 bond matures in August of the same year, pays a coupon of 6.47 percent and is backed by a guarantee of up to 70 percent granted under the InvestEU initiative by the European Investment Fund.
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CSA is headed by Alessandro Arcangeli, Roberto Canini, Paolo Fonti, Roberto Giani, Alessandro Martinetti, and Giacomo Tentoni, with 16.67 percent each
Sampling and analysis of water, soils, air, waste, and food are the main fields of interest on which the activities of the group’s laboratories focus, which represent the heart of the company and are organized with the most technologically advanced equipment available on the market today in this specific sector.
In addition, at the service level, the CSA group is also involved in environmental consulting, occupational safety, management systems, and food hygiene and quality. CSA ended 2022 with €8.9 million in revenues, an EBITDA of about €720,000, and a net financial debt of €1.6 million.
Monica Morri, the chief financial officer of CSA Group, commented, “We are very pleased with the first minibond placement. After a process of redefinition of the group’s financial structure, we also considered complementary finance and market instruments, with the support of our advisor Frigiolini & Partners Merchant, and the placement agent Fundera, who guided us on a path that was completely new to us at the time. The goal of the CSA group was to introduce itself to the financial community and thus make itself known to the market in order to create a stable and lasting alternative and complementary channel to the traditional funding channel alone.”
And Alessandro Arcangeli, CSA group board member added: “It was a process that involved and stimulated all the main corporate functions, starting with the Board of Directors, which has always shown itself to be attentive and sensitive to market finance, which also enabled the company’s entire management to fully understand and take advantage of this important form of finance, especially in anticipation of the group’s future developments.”
Fundera is one of only three Italian crowdfunding platforms that to date have obtained authorization to operate on the basis of the new European Regulations that will come into force next November 10th.
On the subject, Leonardo Frigiolini, president of F&P Merchant and managing director of Fundera, commented, “A rather far-sighted rule of European enactment, recently transposed by Italy (to tell the truth, largely inspired by the pioneering Italian regulation), will soon come into force, which in perspective will allow portals like ours, among other things, to place minibonds not only to retail investors but to raise resources throughout Europe, to be then hopefully channeled to our companies and our territories and districts.”
But he warned, “The enlargement of the market is, on the one hand, a positive thing but on the other a test for the country, which will have to show that it knows how to accompany domestic companies in Europe and not have Italian investors underwrite debt instruments of foreign companies.”
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First published in Be Beez. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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