Key Takeaways
- • Banco Santander completed an on-balance-sheet synthetic securitisation of a 2.4 billion euro portfolio of mid and large-cap facilities, with A&O Shearman advising (per BeBeez).
- • Santander Consumer Bank completed a 700 million euro cash SRT securitisation of car loans on 7 October via Golden Bar (Securitisation), with Banco Santander as arranger.
- • Guala Closures, a portfolio company of Investindustrial, issued a one billion euro Luxembourg-listed high yield senior secured bond at 375 bps over 3M Euribor (0% floor), maturing 5 October 2033, and renewed a 175 million euro super senior revolving credit facility.
- • Medisolve, a HIG Capital portfolio company, refinanced its debt and is raising up to 245 million euros across two senior secured bonds and a super-senior revolver, with Barings and Deutsche Bank among its lenders.
- • Revalue Energies secured more than 160 million euros of project financing from BayernLB, UniCredit and ING to fund 26 solar projects totalling about 162 MW in central and northern Italy.
Summary
BeBeez International's weekly Italian private debt and corporate finance round-up highlights several sizeable financings. Banco Santander received assistance from A&O Shearman, with partner Pietro Bellone, on an on-balance-sheet synthetic securitisation covering a 2.4 billion euro portfolio of facilities for mid and large-cap companies originated by an undisclosed firm. Separately, on 7 October, Santander Consumer Bank completed a cash SRT securitisation of 700 million euros of car loans. Golden Bar (Securitisation) issued Class A through E ABS notes, rated by DBRS and S&P, while the Z junior tranche is unlisted and unrated. Banco Santander acted as arranger, with Crédit Agricole CIB and Crédit Industriel et Commercial as joint lead managers.
Guala Closures, a portfolio company of Investindustrial, issued a one billion euro high yield senior secured bond listed in Luxembourg, priced at 375 basis points over three-month Euribor (0% floor) with quarterly resets and maturing 5 October 2033. Proceeds refinance two previous issues of the same amount. The company also renewed a 175 million euro super senior multicurrency revolving credit facility. The notes are callable at a make-whole premium before 5 October 2027 and at par plus accrued interest thereafter, with a 101% change-of-control put in selected cases. The margin follows a decreasing ratchet tied to the ratio of senior secured net debt to pro forma EBITDA. Deutsche Bank, J.P. Morgan, UniCredit, Goldman Sachs Bank Europe, Mediobanca, UBS, IMI-Intesa Sanpaolo, and Santander assisted the company, while Latham & Watkins and Maisto e Associati advised the lenders.
Medisolve, a HIG Capital portfolio company that recently acquired Austria's Mides Healthcare Technology and Italy's Origlia, refinanced its debt with Barings and Deutsche Bank and added facilities above 70 million euros for M&A and international expansion. Its board approved in August 2026 a package of up to 245 million euros, comprising senior secured bonds of up to 220 million and a 25 million super-senior revolver. The first unitranche bond may total 175-180 million euros, maturing 15 September 2033 according to the Bank of Italy's database, with a capex bond of up to 45 million euros that may be issued in tranches within 42 months. The bonds are privately placed with professional and qualified investors at a Euribor-based rate with a zero floor, plus an initial margin of up to 5%, and include a PIK option. Mediobanca and Latham & Watkins advised the company, and Hogan Lovells Cadwalader advised the lenders and bondholders. CEO Angelo Maresca and CFO Nicola Antognetti lead Medisolve.
Revalue Energies, co-led by Marco Corsetti and Luca di Giacomo, secured project financing of more than 160 million euros from BayernLB, UniCredit and ING, including a senior facility, a DSR facility and a GSE guarantee, with an accordion feature to support future portfolio expansion. The proceeds finance 26 solar projects totalling about 162 MW across six regions of central and northern Italy. BonelliErede, BYOM, Aon and PwC advised the lenders.
In smaller transactions, LexCapital B-Corp completed a securitisation of litigation funding credits, issuing up to 10 million euros of partly paid ABS maturing in 2040, with Azimut funds committing to purchase the notes on a revolving basis toward a 10 million euro target portfolio. CAM, a Marinelli family real estate firm, obtained a 5 million euro direct loan from Tenax Capital and placed a 6 million euro secured amortising minibond subscribed by four banks. Sources told BeBeez that Tortoise received a 39.8 million euro UniCredit loan maturing 2031 to regenerate Palazzo Rimbotti in Florence. Finally, Generali Real Estate's GREDIF II, which raised one billion euros in December 2025 and has invested 700 million, could close a 50-80 million euro deal by year-end.
Guala Closures, a portfolio company of Investindustrial, issued a one billion euro high yield senior secured bond listed in Luxembourg, priced at 375 basis points over three-month Euribor (0% floor) with quarterly resets and maturing 5 October 2033. Proceeds refinance two previous issues of the same amount. The company also renewed a 175 million euro super senior multicurrency revolving credit facility. The notes are callable at a make-whole premium before 5 October 2027 and at par plus accrued interest thereafter, with a 101% change-of-control put in selected cases. The margin follows a decreasing ratchet tied to the ratio of senior secured net debt to pro forma EBITDA. Deutsche Bank, J.P. Morgan, UniCredit, Goldman Sachs Bank Europe, Mediobanca, UBS, IMI-Intesa Sanpaolo, and Santander assisted the company, while Latham & Watkins and Maisto e Associati advised the lenders.
Medisolve, a HIG Capital portfolio company that recently acquired Austria's Mides Healthcare Technology and Italy's Origlia, refinanced its debt with Barings and Deutsche Bank and added facilities above 70 million euros for M&A and international expansion. Its board approved in August 2026 a package of up to 245 million euros, comprising senior secured bonds of up to 220 million and a 25 million super-senior revolver. The first unitranche bond may total 175-180 million euros, maturing 15 September 2033 according to the Bank of Italy's database, with a capex bond of up to 45 million euros that may be issued in tranches within 42 months. The bonds are privately placed with professional and qualified investors at a Euribor-based rate with a zero floor, plus an initial margin of up to 5%, and include a PIK option. Mediobanca and Latham & Watkins advised the company, and Hogan Lovells Cadwalader advised the lenders and bondholders. CEO Angelo Maresca and CFO Nicola Antognetti lead Medisolve.
Revalue Energies, co-led by Marco Corsetti and Luca di Giacomo, secured project financing of more than 160 million euros from BayernLB, UniCredit and ING, including a senior facility, a DSR facility and a GSE guarantee, with an accordion feature to support future portfolio expansion. The proceeds finance 26 solar projects totalling about 162 MW across six regions of central and northern Italy. BonelliErede, BYOM, Aon and PwC advised the lenders.
In smaller transactions, LexCapital B-Corp completed a securitisation of litigation funding credits, issuing up to 10 million euros of partly paid ABS maturing in 2040, with Azimut funds committing to purchase the notes on a revolving basis toward a 10 million euro target portfolio. CAM, a Marinelli family real estate firm, obtained a 5 million euro direct loan from Tenax Capital and placed a 6 million euro secured amortising minibond subscribed by four banks. Sources told BeBeez that Tortoise received a 39.8 million euro UniCredit loan maturing 2031 to regenerate Palazzo Rimbotti in Florence. Finally, Generali Real Estate's GREDIF II, which raised one billion euros in December 2025 and has invested 700 million, could close a 50-80 million euro deal by year-end.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.