(Alliance News) - Kruso Kapital Spa announced on Friday the issuance of a loan in the form of credit-linked notes for approximately EUR3 million, intended for two investors, including Società di Gestione delle Partecipazioni in Banca Sistema Srl.
On October 7, an agreement was signed with SGBS for a share of approximately EUR2 million of the new issue.
The transaction is part of the program approved by Kruso Kapital's board of directors on March 4, which authorizes the issuance of CLN financial instruments up to a total amount of EUR10 million by October 31, 2026. These instruments are linked to the repayment of exposures arising from loans secured by gold items granted by the company.
Repayment to investors will be made exclusively on the basis of the amounts actually collected from debtors or recovered on the underlying exposures, in addition to the agreed interest. The unsecured transaction is backed by 2,236 contracts for a total amount of EUR 3 million in credit, corresponding to the nominal value of the issue.
The countervalue of the underlying assets at the date of issue is approximately EUR 7.2 million. The notes provide for a quarterly coupon of 5.5% and an estimated duration of 12 months.
Kruso Kapital's stock is trading at EUR1.80 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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