MILAN, Jan. 13 (Class Editori) -- With a 94-million-yuan funding, equal to 12 million euros, allocated to the Danieli Group, the Italian CDP depletes the first one-billion-yuan worth Panda Bond.
The resources of the group based in Buttrio (Udine), active in planning, building, selling and installing machinery and plants for the iron and steel industry, will be used for enhancement operations of the existing production lines, with the aim of providing Chinese and worldwide customers with innovative plants able to produce steel with "Green" technologies.
With the complete depletion of the funds, CDP could launch the implementation of a second potential Panda Bond issue, a confirmation of what has been anticipated last October by MF-Milano Finanza. "We are verifying with the market the tool effectiveness and we are ready to take into account a new tranche in case of further demand", had explained Riccardo Honorati Bianchi, International Affairs Senior Advisor of CDP, who had spoken on the second day of the Belt & Road Initiative 3, a forum that deals with the new Silk Road hold by Class Editori (that controls this newspaper) in collaboration with Xinhua Agency.
The resources collected allowed CDP to start a new operation, both directly and indirectly, by means of a banking system meant to promote the internationalization of the national production system through the growth of Chinese subsidiaries or branches of Italian companies.
77% of the Panda Bond issue has been used directly, through the signing of eight bilateral loan agreements with Italian excellences operating on the Chinese market, while the remaining 23% has been implemented indirectly, through the Shanghai-based subsidiary of Banca Monte deiPaschi di Siena, with the aim of supporting small-scale import operations in favour of SMEs and of companies that currently cannot benefit from the CDP's direct funding.
"Thanks to the launch of the first Panda Bond on the Chinese market and to the possible start of a new direct and non-direct operation in local currency, CDP further enhanced its support in the expansionof Italian companies operating abroad, making the access to the medium-long term loans easier for Italian companies' Chinese subsidiaries – even if they are SMEs- by fostering their consolidation and growth on global markets", said Paolo Calcagnini, Deputy General Manager and Chief of Cassa Depositi e Prestiti S.p.A.
Before Danieli, there have been other loans, including 5 million for the Meter Group, 5 million euros for the filter producer UFI Filters, 50 million euros for Deutz Fahr Machinery, a Chinese company controlled by the Italian group SDF, acronym for SAME-Deutz Fahr. Moreover 5 million euros have been invested in Fiamm-Autotech, a company active on the Chinese market, subsidiary of the Italian Fiamm Componenti Accessori S.p.A., 10 million euros in Euro Group Laminations and, in the end, 5 million euros in Robassomero.
(Source:Class Editori)
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
