One billion euros from cdp and Intesa Sanpaolo to facilitate credit for italian mid-caps and smes

ONE BILLION EUROS FROM CDP AND INTESA SANPAOLO

TO FACILITATE CREDIT FOR ITALIAN MID-CAPS AND SMEs

· Cassa Depositi e Prestiti has subscribed to a €1 billion bond issued by Intesa Sanpaolo to support small and medium-sized enterprises

· The resources are earmarked for investments by mid-caps and SMEs under Intesa Sanpaolo's Motore Italia programme

· Reduction in the cost of financing for liquidity and Green and Digital investments

Rome, 9 July 2021 - As part of the broader collaboration between Cassa Depositi e Prestiti and Intesa Sanpaolo, aimed at promoting the development of joint initiatives to support Italian businesses, CDP has subscribed to a 7-year senior unsecured preferred bond issued by Intesa Sanpaolo with a nominal value of €1 billion, which will be used in full by the Bank to provide new loans to Italian mid-caps and SMEs for investments in Italy.

The initiative consolidates the partnership between CDP and Intesa Sanpaolo and makes additional resources available as part of “Motore Italia”, Intesa Sanpaolo's strategic programme of initiatives designed to enable mid-caps and SMEs to overcome temporary difficulties, gradually rebuild their cash flow and relaunch themselves through new development and growth projects. In particular, in line with the programme, the initiative will give SMEs better access to credit by reducing the cost of financing and helping to obtain new liquidity to overcome the still critical post-pandemic phase or to finance new investments for growth and the recovery of competitiveness on national and international markets, leveraging production chains.

These facilities are in fact aimed at supporting new financing for investments in the digital and sustainable transition of the Italian economy, with a focus on supply chains, while also extending the maturity of existing financing to up to 15 years.

Loans to businesses may have a maximum amount of €25 million and a minimum maturity of not less than 24 months, including grace period.

In this context of recovery, CDP and Intesa Sanpaolo have strengthened their initiatives to support the growth and competitiveness of the country's businesses, promoting innovation and sustainability projects to overcome the difficult phase caused by the health emergency and to take advantage of the opportunities and rise to the new challenges of the current and future economic scenario.

Paolo Calcagnini, Deputy General Manager and Chief Business Officer of CDP, commented: “The financing subscribed is confirmation of CDP's commitment, in synergy with Intesa Sanpaolo, to supporting the country's business community. The collaboration will facilitate access to credit for Italian mid-caps and SMEs with the aim of boosting their productivity and competitiveness in this post-COVID-19 restart phase. The resources will be directed, in particular, to support investment projects for the digital and ecological transition of companies and initiatives for the domestic and international growth of businesses”.

Stefano Barrese, Head of Intesa Sanpaolo's Banca dei Territori Division, commented: “This agreement with CDP, which comes in addition to many other ongoing joint initiatives, confirms our desire to form a network with the major players in the Italian economy, to identify solutions and resources for Italian SMEs in this phase of economic recovery, in line with our Motore Italia programme and the country's strategic restart plan.

In the first five months of the year, Intesa Sanpaolo has already disbursed €11 billion to SMEs, of which over €1.5 billion in support of the sustainable transition, and we intend to further strengthen our commitment to this line of development and growth”.

Press information

Cassa Depositi e Prestiti

Media Relations CDP

+39 06 4221 4000

ufficio.stampa@cdp.it

Intesa Sanpaolo

SME & Retail Banking and Local Media

stampa@intesasanpaolo.com

https://group.intesasanpaolo.com/it/sala-stampa/news

CASSA DEPOSITI E PRESTITI

Cassa Depositi e Prestiti is the National Promotional Institute which has been supporting the Italian economy since 1850. The main goal of CDP is to accelerate the industrial and infrastructural development of Italy to boost its economic and social growth. CDP focuses its activities on sustainable development at local level, supporting the innovation and growth of Italian enterprises, also in the international arena. It partners local authorities, in a financing and advisory capacity, to create infrastructures and improve services of public value. CDP also participates actively in international cooperation initiatives to realize projects in developing countries and emerging markets. Cassa Depositi e Prestiti is entirely financed by private capital, through the issuing of Postal Savings Bonds and Postal Savings Passbooks, and through issues on national and international financial markets.

Intesa Sanpaolo

Intesa Sanpaolo is the leading Bank in Italy and one of the soundest and most profitable banks in Europe. It offers commercial, corporate investment banking, asset management and insurance services. The Intesa Sanpaolo Group has approximately 13.5 million customers in Italy who are assisted through both digital and traditional channels and 7.1 million customers abroad with subsidiaries operating in commercial banking in 12 countries in Central Eastern Europe and Middle Eastern and North African areas and an international network of specialists in support of corporate customers across 25 countries. Intesa Sanpaolo is recognized as one of the most sustainable banks in the world. For the Group, creating value means being a driver for growth, for the benefit of both society and the economy. As regards the environment, the Group has set up a 6-billion-euro fund for the circular economy. Intesa Sanpaolo supports major economic inclusion and poverty reduction projects, including an impact fund of 1.5 billion euro for loans available to social groups who struggle to access credit. Intesa Sanpaolo has a high level of involvement in cultural initiatives, organised by the Bank or in collaboration with other entities in Italy and further afield. These include permanent and temporary exhibitions showcasing the Bank’s impressive artistic heritage at the Gallerie d’Italia, the Group’s museums located in Milan, Naples, Vicenza and soon Turin.

Last updated 9 July 2021 at 13:04