(Finance) – Cherry Banka bank specialized in supporting businesses and creating value from the transformation of NPL portfolios to the purchase of credits taxand in the Wealth Management sector, is pleased to announce the completion of a financing operation Sace Futuro from 10 million euros in support of Renco Group, a well-known company operating internationally in the engineering, general contracting and project development sectors. The loan, lasting 48 months, is intended to cover the working capital needs necessary for the preparation of strategic supplies in the areas of social and energy infrastructure.
Backed by a 70% Sace Futuro Guarantee, in detail the financing will allow the construction of important projects such as university science pavilions, a wind farm and the supply of electrocompressors integrated into gas compression stations. These projects will not only significantly contribute to the growth and improvement of the infrastructure in question, but will also support innovation and sustainable development.
“Cherry Bank is proud to support Renco Group in these vital initiatives for the entrepreneurial fabric of our country,” he said Vincent GalileoHead of Corporate Banking at Cherry Bank, “we are aware that by working alongside projects of this type we strengthen our already strong commitment towards the economic development of companies and their competitiveness as well as towards environmental sustainability”.