(Tiper Stock Exchange) – generalfinancea company listed on Euronext STAR Milan and a financial intermediary specializing in factoring for distressed SMEs, has announced the entry of BPM desk how new senior investor in the securitization transaction launched in 2021, alongside BNP Paribas And Intesa Sanpaolo. This is the trade receivables securitization program which provides for the transfer on a revolving basis of portfolios of performing trade receivables, originating in Generalfinance’s factoring business.
Banco BPM will subscribe senior-class securities issued as part of the securitization transaction up to a maximum of 100 million euros with a initial commitment of 50 million euros. The maximum nominal amount of outstanding receivables increases from 590 to 737.5 million euro.
“We are particularly proud that Banco BPM has also decided to finance Generalfinance through the securitization operation launched in 2021 – commented theCEO Massimo Gianolli – This operation will enable the company to achieve its ambitious growth objectives of the turnover, forecast in the new business plan at 3.4 billion euros at the end of 2024, an increase compared to 1.4 billion in 2021″.