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Revolving pledge: a new support tool for the DOC and DOCG wine sector

Revolving pledge: a new support tool for the DOC and DOCG wine sector. The revolving pledge allows to carry out a valuation of stocks of wine to be aged and to convert them into collateral for new lines of credit

Intesa Sanpaolo has developed the “revolving pledge”, a nationwide project to support premium wine producers who will be able to convert the stocks of the finest wines in their cellars into collateral, in order to secure new lines of credit.

The revolving pledge project is open to wineries producing DOC and DOCG wines. In addition, consortia for the protection of the many other designations present in Italy and their control bodies may also be interested in the revolving pledge project.

Intesa Sanpaolo’s project benefits from the collaboration of Federdoc – the national confederation of the voluntary consortia for the protection of Italian wine designations – and Valoritalia – a company leader in control activities on DOCG, DOC and IGT wines and control body for organic wine and organic farming.

Agriculture is one of Italy’s most important productive sectors, which is why Intesa Sanpaolo has created its new Agribusiness Department, a centre of excellence expressly dedicated to agriculture, a fundamental sector of Italy’s real economy.

Agreements with Wine Consortia

To promote and facilitate access to the revolving pledge, Intesa Sanpaolo has already signed agreements with several wine consortia, including:

  • Consorzio di Tutela Barolo e Barbaresco Alba Langhe e Dogliani
    Under the revolving pledge agreement with the Consorzio di Tutela Barolo e Barbaresco Alba Langhe e Dogliani, the area’s finest wines may be turned into collateral to secure a 5-year loan, with a pre-amortisation period, to cope with the difficulties in the sector, re-establish a financial balance in the company and invest in a turnaround.      
    In order to support the revolving pledge, the Piedmont, Valle d’Aosta and Liguria Directorate has allocated a credit facility of €50 million, while the Consortium has acted as an intermediary with respect to the actual needs of the wineries and will continue to play an active role in the initiative.

  • Consorzio Franciacorta and Consorzio Tutela Vini Oltrepò Pavese
    The wine companies associated with the Consorzio Franciacorta and Consorzio Tutela Vini Oltrepò Pavese will be able to access credit lines and short-, medium- and long-term financing with the possible support of subsidized finance products.
    The agreement will allow member companies of the Consorzio Franciacorta and Consorzio Tutela Vini Oltrepò Pavese to access specific credit facilities to finance investments with a positive impact on sustainability, also activating access to Intesa Sanpaolo’s Agricoltura Impresa product, aimed at wine ageing, business improvement for the purchase, construction and restructuring of cellars, the purchase of land and vineyards, rural property and businesses, as well as for investments in business machinery and equipment.
    Access to credit by wine companies can be facilitated through recourse to the consolidated operations of the ISMEA direct guarantee and the extension of the Medio Credito Centrale guarantee offered by the Liquidity Decree to the agricultural sector.

 

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