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The term guarantor refers to all those who provide guarantees to local and national production companies in order to facilitate the issuing process or to reduce the cost of debt.
The main guarantee instrument from which Anthilia BIT investment benefit from is the InnovFin Guarantee, issued by the European Investment Fund (EIF) with the European Union’s financial support, according to the terms defined by the Horizon 2020 program and the European Fund for Strategic Investments (EFSI), as described in the Investment Plan for Europe. The purpose of EFSI is to facilitate access to funding and the implementation of productive investments in the European Union.
European Investment Fund (EIF) support growth and development of small and medium-sized enterprises with financial resources coming from major European institutions. It can issue guarantees on bond portfolios, subject to an independent valuation on the fund structure.
EIF guarantee scheme
| Target | Fast growing SMEs with high degree of innovation |
|---|---|
| Guaranteed portfolio | Up to EUR 50 million |
| Single issue guarantee | Up to 50% of the face value of the issue (with a maximum of EUR 2.5 million) |
| Rating restrictions | Up to 50% of the guaranteed portfolio with BB- rating or less Up to 10% with B+ rating |
| Geographic concentration | Up to 30% on a single Province |
| Industry concentration | Up to 20% on a single industry |
| Amortizing restrictions | Up to 50% with bullet or balloon repayment plan |
| Duration restrictions | Up to 20% of the guaranteed portfolio with bullet or balloon repayment and weighted average life greater than 3.5 years |
| Benefits for the issuer | Improvement in terms of creditworthiness and reduction of cost of funding |
Other guarantors for Anthilia Bond Impresa Territorio
Insurance-financial group active in credit insurance, investment protection and financial guarantees. It acts as guarantor of individual bonds, subject to an independent due diligence on the issuer with a specialized team of professionals.
Guarantee Fund to support the development of micro, small and medium-sized enterprises. It provides guarantees at individual bonds level (guaranteed amount between 30% and 50% of face value with a maximum of EUR 1,500,000) and portfolio level (if well diversified and with a face value between EUR 50,000,000 and EUR 300,000,000). The cost is equal to 1% of the guaranteed amount, one-off.