MINIBOND SCORECARD: MARKET TRENDS
Main indicators as of July 31th 2015
THE SUMMER OF MINIBONDS
Positive analysis for the first part of 2015: the food&beverage sector is on the rise and the minibond market increased again during the summer
The period May-July 2015 has really been prolific for the Italian market and the issues never stopped not even during the summer. The results of this first part of 2015 is absolutely positive, with more and more SMEs that choose to access the private debt market.
Here’s a snapshot of the Italian Minibond market in the first seven months of 2015 and the main developments compared to the previous Minibond Scorecard presented in May:
- 128 issued minibonds for a total value of approximately €5.2 bn (+4.7% vs previous quarter)
- increase of minibonds below €50 M in face value: in fact 18 out of 19 new issues in the period May-July fall into this category
- minibonds below €50 M in face value represent now 19% of the overall market
- decrease of the average maturity and coupon rate, consistently with previous quarter, confirming the market consolidation trend
- Food&beverage sector registered the highest variation (+63% of volumes), thanks to new issues by Ferrarini and Terre Cortesi Moncaro
- strong concentration of issues in Northern Italy is confirmed
The updated identikit of minibond not exceeding €50 M is the following:
- Average face value: €9.4M (compared to €9.7 M, the average as of April 30st 2015)
- Average coupon rate: 5.66% (compared to 5.80%, the average as of April 30st 2015)
- Average maturity: 5.4 years (compared to 5.6 years, the average as of April 30st 2015)
Just like in the previous months we can confirm an interest from abroad for the italian Minibond market: the data confirms that 20% of the total number of accesses to the webportal MiniBondItaly.it come from outside Italy, particularly:
- Visits from various areas of the US are growing (very different situation as opposed to the beginning of the year): USA holds now the record for these last months, following by the financial/ industrial centers at a global level: UK, Switzerland and Germany.
- The number of sessions coming from China and Japan overtakes visits from France.
Interest from abroad is also confirmed by Epic SIM, who is seeing a growing number of foreign investors that join their fintech platform, mainly from Western Europe.
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.