(Alliance News) - Generalfinance Spa announced on Thursday that it has successfully completed a private placement of additional unsecured bonds for a total amount of EUR20 million, intended exclusively for qualified investors.
The new bonds will be consolidated and form a single series with the existing EUR50.0 million bonds due in 2028, issued last April, and with the EUR30.0 million bonds due in 2028 issued in September. The new bonds therefore have the same terms and conditions as the previous bond loans, providing – in particular – for maturity in April 2028 and a fixed annual coupon of 5.5%, with Generalfinance having the option to redeem early starting from April 17, 2027.
The bonds were issued at a price equal to 100.7% of the nominal value, were subscribed by leading institutional investors, and will be admitted to trading on Euronext Access Milan.
The proceeds from the issuance will be used to support Generalfinance's development plans and to further strengthen its lending capacity in the area of factoring services dedicated to clients in Special Situations.
The transaction was structured with the support of Equita SIM, acting as arranger and lead manager. The law firm Legance – Avvocati Associati assisted the company as legal advisor, while The Bank of New York Mellon SA/NV – Milan Branch acted as paying agent and account bank.
Generalfinance shares closed up 2.5% on Thursday at EUR24.80 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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