Basket Bond Lazio: 34 million minibonds issued so far to finance 16 small and medium-sized enterprises

The Lazio Region's Basket Bond programme for mini-bonds to small and medium-sized enterprises has so far led to the issuance of EUR 34 million out of the EUR 60 million made available until the end of 2026. To date, 16 companies have been involved. This was stated by the Councillor for Economic Development Roberta Angelilli at the conference organised by GA Alliance. "It is a strategic opportunity to make a paradigm shift and open up to the market," she explained, "We decided to provide this tool first of all because companies were asking for it and secondly because it represents the possibility of going beyond traditional credit. Among small and medium-sized enterprises, however, there remains a certain caution due to a low level of familiarity with these instruments, so we must foster a climate of confidence'. The Basket Bond Lazio programme sees Mediocredito Centrale and Cdp as underwriters of the minibonds and the presence of a guarantee fund with Mediocredito, Banca Finint, Banca Finnat Euramerica, and Bnl Bnp Paribas.

Lazio 'is in a strong economic position, it is the second region in terms of gross domestic product and Rome is the fourth manufacturing city in Italy after Milan, Turin and Brescia,' added Giuseppe Biazzo, president of Unindustria. 'We have leading supply chains in Italia, starting with pharmaceuticals, aerospace/defence and ICT, but we need to work on increasing the size of our members: above all, we lack medium-sized companies if we make a comparison with other industrial areas in the north.

Businesses are going through 'a macroeconomic phase of uncertainty in which they must remain competitive on the market and make important investments', pointed out Angelo Camilli, vice-president of Confindustria with responsibility for credit, finance and taxation. While 'bank credit remains an important component', it is also true that lending 'has fallen over the last 10 years' for various reasons and that banks have become 'more selective' in disbursing. "Alternative finance is central in order to be able to flank bank debt with instruments that allow companies to deal with this phase: in this, the regions have a fundamental role and one that must grow with greater thrust by also looking at operations with a longer duration and a larger denomination" compared to the current minibonds.

Francesco Sciaudone, Managing Partner of GA-Alliance, said: "Today, alternative finance is no longer an option: it is a strategic choice for companies that want to grow and remain competitive. The regulatory environment pushes them towards low capital absorption models and companies need alternative financing instruments. The Basket Bond promoted by the Lazio Region goes exactly in this direction: an example of public-private partnership for growth. Institutional investors, administrations, small and medium-sized enterprises together to support development and growth. As Managing Partner of GA Alliance, I am proud that our firm - with a strong track record of around 200 issues - is the Arranger's counsel for this transaction. Diversifying funding sources and accessing the capital market means developing a culture of transparency and governance that today is indispensable to compete with authority on a global scale"