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Supply chains, basket bonds in support of entertainment

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Four months after the first operation in the wine sector, the supply chain Basket Bond – a 200 million euro program intended to support companies belonging to the Italian strategic supply chains – closes the second tranche, this time in support of culture, with a focus on production and cinema and television distribution. Three companies have individually issued as many fixed-rate minibonds with a duration of 7 years, collecting resources for 21 million. It is about Iervolino and Lady Bacardi entertainment (founded by Andrea Iervolino and active in the production of film and television content, it is listed on the Aim), Leone film group (listed on the AIM, it is the independent film production and distribution company founded by Sergio Leone in 1989, whose majority shareholders are the director’s sons, Andrea and Raffaella) and Lucky red (founded in 1987 by Andrea Occhipinti and Kermith Smith, it is active in all sectors of the supply chain).

«By participating in this operation – said Andrea Iervolino, president of Iervolino and Lady Bacardi entertainment – our company is recognized as a creator of value in the culture sector, and as a representative of the made in Italy industry in the world of film production. We attach great importance to this initiative, which identifies our business as strategic for the country’s economy, and we are happy to be able to take part in it by collecting resources to grow in Italy and abroad ». For Raffaella Leone, managing director of Leone Film Group «This bond issue represents an interesting tool for diversifying and expanding sources of financing. These funds – he explained – will be invested mainly for the creation of new productions and content acquisition, and will facilitate the relaunch after the difficult period of the pandemic ». In the end Lucky Red which, as recalled by the founder Andrea Occhipinti, founder of Lucky Red “has more than tripled its production capacity, both for films and series” in the last period. «The audiovisual sector – he added – is experiencing a moment of great expansion, stimulated by the demand for content on the part of streaming platforms and national broadcasters. We are very happy to have UniCredit and Cdp as partners in this growth path. A support that will be important to complete our planning ».

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Cdp and UniCredit, acting as anchor investor, each subscribed 50% of the issued amount. “We are proud to dedicate this new tranche of the supply chain Basket Bond to companies in the cultural production sector, one of the excellences of Made in Italy that helps to determine, even abroad, the identity of our country – said Andrea Casini, business manager of UniCredit Italy -. The innovative operation signed is further proof of the dynamism demonstrated in recent years by the main Italian operators in the sector. We are convinced that we have made available to companies an effective tool to access the capital market in an advantageous and streamlined way, differentiating the sources of financing useful to support their investments ». For Paolo Calcagnini, deputy general manager of Cdp he said he was convinced that with this operation, the institute could take «a further step in the path aimed at encouraging the growth of businesses through supply chain programs in sectors, such as the cultural one, which have always represented Made in Italy in the world. The use of the Basket Bond instrument – he added – confirms Cdp’s capacity for financial innovation, in synergy with the banking system, to support the development and internationalization of companies. The results achieved by the previous issues demonstrate the solidity of the program and the will to bring more and more companies closer to the capital market ».

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