MINIBOND SCORECARD: MARKET TRENDS Main indicators as of July 31st 2016
LATEST UPDATED REGARDING EXTRAMOT PRO MARKET:
188 ISSUES SHORT-TERM MINIBONDS STILL IN THE SPOTLIGHT
188 minibond issues reached; a month away from the last Market Trends Minibond Scorecard, arrives the English update of the document. By observing this months’ last issues there is a clear signal that the market remains active despite the holiday season.
The interest showed by foreign countries for this debt instrument, which in Italy has seen a fair amount of success among SME’s, is constantly on the rise. Precisely for this reason MinibondItaly together with Epic Sim have created the English version of the document. The Minibond Scorecard: Market Trends is designed with the purpose of bringing quality and reliable information to foreign agents that operate within the sector: it provides a description from an international angle on what is currently happening in the ExtramotPro Italian Market, with the objective of providing an updated and clear picture for international players.
Let us take a detailed look at what has changed compared to the last update:
- 188 issued minibonds for a total value of approximately €7.6 bn (+20% vs 30th April 2016)
- Decrease of minibonds below €50 M in face value: in fact 17 out of 21 new issues in the May-July period fall into this category
- Slight decrease of the average coupon rate, consistent with the previous quarter, confirming the market consolidation trend
- Power & Utilities registered the highest variation ( +0.9 pp of the share of total value issued vs Apr), mainly thanks to new issues of TS Energy Italy S.p.A.
- Strong concentration of issues in Northern Italy is confirmed
The updated average profile of minibonds not exceeding €50 M is the following:
- Average face value: €9.0M
- Average coupon rate: 5.00%
- Average maturity: 5.8 years
MINIBOND SCORECARD: MARKET TRENDS is published by MinibondItaly.it in collaboration with Epic SIM and provides quarterly updates on the evolution of the Minibond market in Italy; the English version is released one month after the Italian one, ensuring a constant stream of accurate data.
MinibondItaly.it is the first informational web portal and news aggregator overviewing the Italian Minibond market (developed and managed by Business Support, a strategy consulting and financial advisory firm).
Epic SIM manages the new fintech platform www.epic.it that directly connects private capital and SMEs.