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UniCredit and SACE team up on €20 million minibond for Guala Dispensing

Intended to support the Group's international expansion plan, the bond is underwritten by UniCredit and guaranteed by SACE



UniCredit has underwritten a €20 million bond issued by Guala Dispensing Spa, which produces and markets plastic items for various product sectors and is a key supplier to the multinational Reckitt Benkiser.


The issue is intended to support the Group's international expansion plan and is supported by a guarantee issued by SACE (the Italian Export Credit Agency) to UniCredit, which acted as Sole Arranger & Underwriter.


The Guala Dispensing Group operates across a huge geographic area, spanning Italy, Europe, America and the Far East. It is a European leader in the production and sale of triggers sprayers for dispensing household cleaning products, toothpaste pump dispensers and brand-compatible coffee capsules. The company has recently strengthened its presence in the pharmaceutical and medical field, with the production for the US market of dispensers of sanitisers to help combat the SARS-CoV-2 virus.

Production currently takes place at four sites: two in Alessandria (Italy), one in Mexico and one in the People's Republic of China. A new site is under construction in Romania. The Group currently employs over 1000 people, including 700 in Italy. It posted revenues of €174 million in 2019.


Fabrizio Simonini, North West Regional Manager at UniCredit, said: "This deal underlines UniCredit's ability to provide companies with tailored financial solutions for each phase of their life, pairing traditional credit-based support with access to capital markets, driving growth and investment. The Guala Dispensing minibond is one such example. This is a dynamic and innovative business with a growth strategy built around internationalism and sustainability."


Enrica Delgrosso, North West Manager of SACE, said: "We are delighted to have supported Guala Dispensing with this issue. We want to continue to be a properly strategic partner for top Italian companies, which even in complex time like the present, never stop seeking out opportunities on international markets. The deal is also testament to SACE's ability to offer financial solutions using alternative debt instruments, like bond issues."


Stefano Guala, Chairman and CEO of Guala Dispensing, said: "This bond issue will help the group to realise our investment plan, which is designed to further strengthen our position in international markets. This is our first minibond and the fact that it was issued at such a tricky time is a source of great pride and optimism, given the challenges of the near future."


UniCredit is an established leader in innovative financing solutions for SMEs in Italy, having underwritten or structured about €450 million in minibonds - for nearly 60 Italian SMEs - over the last three years.


SACE continues to strengthen its role in supporting exports and the internationalisation of Italian companies on foreign markets. This includes guaranteeing innovative capital-markets transactions, which goes hand-in-hand with many other solutions to boost the competitiveness of Italian companies, in Italy and worldwide.


Milan, 15 September 2020





UniCredit Media Relations:


 Twitter: @UniCredit_PR