Dolci Palmisano Issues Its First Minibond of the F&P “Rolling Short term” Program

The Venetian company Dolci Palmisano Srl enters the debt market for the first time with the issue of a “Short Term Minibond” for a maximum of 300,000 euros, with a gross coupon of 5.5%, fully subscribed on the day of issue.

The issue was structured by Frigiolini & Partners Merchant and Fidimpresa Friulveneto acted as anchor investor of the transaction.

“We are very pleased to have issued our first minibond,” said Francesco Palmisano, Sole Director of Dolci Palmisano, “which represents an important milestone for Dolci Palmisano and marks our entry into the alternative finance market.”

As the President of Fidimpresa Friulveneto, Massimo Zanon, pointed out: “It is a complementary tool to the banking system, which allows companies to access credit at market conditions. This is accompanied by an accompanying service offered by Fidimpresa Friulveneto, which can count on consolidated experience in the field of advanced and innovative finance to support development programs.”

“By now – pointed out Leonardo Frigiolini, President and CEO of F&P Merchant – we have entered a phase of greater awareness among companies which absolutely must dig (and quickly) what we like to call “the second well from which to draw water” because money is no longer an easily acquired commodity, but rather a “strategic product.”

Dolci Palmisano launched short term minibonds

“Many broadcasters – continued Frigiolini – have now fully internalized this concept and it is truly a pleasure to work with companies like Dolci Palmisano because they have fully understood that it is not enough to dig the second well, but it is also necessary to intercept the water immediately afterwards and this is where the greatest difficulty lies.”

Instruments such as Short Term Minibonds are “easy to drink” because they are very suitable for attracting investors as they are small in size and short in duration and for this reason on the one hand they allow the issuer to acquire familiarity with the instrument and with the market.

On the other hand, they enable investors to “taste” the newcomer without the risk of getting indigestion, thus testing, with a limited risk, the reliability, the level of transparency and more generally the reputation of the issuer, also made up of punctuality in paying what is due at the agreed deadlines.

Dolci Palmisano: the Venetian confectionery tradition

Dolci Palmisano was founded in 1926 on the island of Burano as a small village bakery. Initially focused on the production of baked goods, the company first found its turning point by expanding its product range and introducing products such as cakes and pastries, until it replicated the most famous dessert of the Venetian tradition: the “bussolà”.

“From the first moves towards the mainland around the 50s, albeit with the aim of keeping the craftsmanship of the small oven intact, we arrive today with the opening of the new factory in Jesolo which has been able to establish itself more and more in the world of large-scale distribution.”

To date, the product plafond is particularly wide and further enriched by the production of leavened products for the main holidays (Christmas and Easter). The company has the most important certifications in the food sector (IFS, BRC, HALAL), this allows it to serve different types of customers.

This contributes to the affirmation of Dolci Palmisano as a reality of excellence in the panorama of Italian pastry making, through the production of specialties that combine tradition and innovation, pleasure and well-being.

The anchor investor: Fidimpresa Friulveneto Societa’Cooperativa Pa

Fidimpresa Friulveneto is the guarantee cooperative born recently from the merger of Fidi Impresa & Turismo Veneto with Confidi Friuli.

With registered and administrative headquarters in Tavagnacco, it operates in the Veneto region with branches in Belluno, Jesolo, Mestre, Padua, Portogruaro, Treviso, Vicenza, and Verona and in the Friuli-Venezia Giulia region with branches in Udine and Pordenone.

Today Fidimpresa Friulveneto has over 26 thousand members, it presents itself to the institutions as a solid reality, thanks to its assets of approximately 61 million euros and over 256 million in guarantees in place. The primary purpose remains that of acting as a guarantor for the credit of SMEs.

In addition to this service, now Fidimpresa Friulveneto provides direct financing, prepares applications for the granting of capital or non-repayable contributions, develops projects for system innovation and offers a team of experts for financial and credit consultancy.

Advisor and arranger Gruppo Frigiolini & Partners Merchant

Frigiolini & Partners Merchant is an independent Group that combines the expertise of a financial advisor and a Global coordinator specialized in Minibond issues for SMEs (through the holding F&P Merchant).

Through its subsidiary Fundera, a supervised crowdfunding portal, F&P Merchant has the capacity to place on the primary market.

The team boasts many years of experience in the financial markets. From 2015 to today it has been among the first in Italy for the number of SMEs accompanied to the issue of Minibonds.

The strength of F&P is its independence and the absence of conflicts of interest with respect to captive operators and traditional credit operators, but the real added value is given by the fintech nature of the subsidiary Fundera which, thanks to the new European regulation issued in 2023, has allowed the audience of investors and the territorial scope of action to be expanded compared to the past.

Fundera was the first portal authorized by Consob in 2020 to place Minibonds online on the primary market and since then it has placed more than one hundred issues.

In October 2023, it obtained from Consob, in its first authorization session, the European authorization to operate as a crowdfunding service provider, pursuant to the new Regulation 2020/1503/EU.

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(Featured image by Lidia Zajdzińska via Unsplash)

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