Croatia: PBZ launches the first minibonds in support of the country's SMEs
Privredna Banka Zagreb (PBZ), the Intesa Sanpaolo Group's subsidiary in Croatia, successfully launched the first minibonds on the Croatian market: it was the sole issue agent and investor involved in the Yellow Submarine corporate bond issue.
Minibonds are instruments that can provide SMEs with an alternative source of financing to traditional bank loans. This transaction – with a total nominal value of €3million – allows Yellow Submarine, a gourmet burger chain, to raise funds on the domestic capital market for business growth and development.
By introducing the minibonds framework in Croatia, PBZ aims to prepare companies for accessing capital markets, in particular for future IPOs, thus playing a leading role in the development of the domestic capital market.
The initiative was enabled by the extensive synergies within the Group and PBZ's more than 20 years of experience in arranging debt and equity securities. The adopted minibond framework follows the successfull structure created by Intesa Sanpaolo in Italy to support virtuous SMEs.
“We are proud to have launched the Minibond initiative with PBZ, leveraging the synergies and experience of the Intesa Sanpaolo Group. This product will favor the real economy, particularly SMEs, the backbone of the Croatian economy. We strongly believe that the Minibond initiative will be an enabling factor for Intesa Sanpaolo as the Partner of Choice for our clients.”
Giuseppe Ferraro, Executive Director Intesa Sanpaolo, Head of Corporate & SME Department - International Subsidiary Banks Division
Minibonds – now officially available in Croatia – may also be extended to other countries of te Intesa Sanpaolo's International Subsidiary Banks Division.
Intesa Sanpaolo's International Subsidiary Banks Division operates on three continents, with retail banks in 12 countries (CEE area and Egypt), as well as an asset management company in China. Its extensive network currently serves 7.3 million customers through almost 900 branches and a dedicated workforce of about 21,000 employees.
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Last updated 25 June 2024 at 09:55:05
