UniCredit underwrites a 7 million Minibond issued by Irritec S.p.A.
UniCredit has underwrited a 7 million Minibond issued by Irritec S.p.A., a company based in Capo d’Orlando (ME) and whose main activity consists in the production and distribution of innovative irrigation products that allow maximum optimization of water resources.
The 7-year bond is finalized to support Irritec growth and development strategies, a company whose products are distributed in over than 140 countries worldwide, has over 700 employees and several production plants in Italy, Spain, the United States, Mexico, Chile and Brazil, as well as strategic warehouses in Algeria, Germany and Bologna. Over 40 years Irritec has grown steadily, maintaining solid foundations and developing important innovations in the field of irrigation.
“Minibonds are one of the alternative finance tools increasingly used by small-medium sized businesses with growth projects like Irritec. This is the first minibond transaction that Unicredit carries out in Sicily. With the subscription of the minibond issued by Irritec, our support action continues in favor of the most dynamic entrepreneurial realities of the region – said Salvatore Malandrino, UniCredit Regional Manager for Sicily – Operations like this one require a structured financial partner and this is why UniCredit intends to propose themselves as a reference partner for companies in such virtuous processes”.
“By this operation – says Irritec founder and Administrator Carmelo Giuffrè – the company confirms its aim to accept financing sources alternative to the usual banking facilities. We thank UniCredit for their trust, which we consider a great success. The bond will allow us to pursue our growth strategies “.
The operation was carried out by bank’s Corporate team for Sicily, led by Ferdinando Natali, and finalized by the East Sicily Corporate Area.