The workshop “Basket Bond Regione Lazio: Beyond Traditional Credit”, hosted last week at GA‑Alliance’s Rome office, turned discussion into a practical roadmap for local SMEs. Technical presentations, real‑world case studies and a roundtable with institutional representatives and market participants demonstrated how the Basket Bond can become a tangible instrument to finance growth, internationalisation and financial consolidation.
Why the Basket Bond matters for SMEs
- Access to long‑term capital — The Basket Bond enables companies to secure financing with longer maturities than traditional bank loans.
- Diversification of funding sources — Collective issuances allow SMEs to reduce reliance on bank credit and attract institutional investors.
- Strengthening governance and reputation — Participation in an issuance requires transparency and standardisation, which improve corporate governance and market perception.
How it works in practice
- Securitisation and public guarantee — Technical sessions explained how securitisation converts receivables into tradable securities and how public guarantees mitigate risk, making the securities more attractive to institutional investors.
- Stable returns and mitigated risk — The combination of structure, rating and guarantees delivers a risk/return profile aligned with professional investors’ requirements.
- Practical examples — Case studies illustrated pricing, maturities and placement mechanisms.
The operational role of arrangers
- Key arrangers — CDP, Mediocredito Centrale, Banca Finint and Banca Finnat Euramerica outlined the essential operational steps: structuring the issuance, setting pricing, market placement and post‑issuance management.
- Arrangers’ added value — Their experience is crucial to translate corporate needs into effective financial solutions and to secure market success.
Testimonials and value for companies
- Support for growth plans — Participant testimonies highlighted how the Basket Bond model can finance productive investments and international expansion projects.
- Operational Q&A — Questions from attendees clarified practical aspects for SMEs: eligibility requirements, impact on financial structure and implementation timelines.
GA‑Alliance’s role as Legal & Tax Advisor
Francesco Sciaudone, Managing Partner of GA‑Alliance, described the legal role of arrangers and the firm’s contribution in supporting issuances. With experience in approximately 200 issuances, GA‑Alliance emphasised the importance of specialised legal support to manage contractual complexity, compliance and relationships with institutional investors.
Roundtable speakers and principal contributors
- Francesco Sciaudone — Managing Partner, GA‑Alliance
- Roberta Angelìlli — Vice President, Regione Lazio
- Giulio Bastia — Co‑General Manager, Banca Finnat Euramerica
- Giuseppe Biazzo — President, Unindustria Roma – Frosinone – Latina – Rieti – Viterbo
- Angelo Camilli — Vice President Credit, Finance and Tax, Confindustria
- Vincenzo Paolo Carbonara — Head of Alternative Finance, CDP
- Toni Ciolfi — Councillor, Ordine dei Commercialisti di Roma
- Lorenzo Coletta — Head of Minibond and Basket Bond, Mediocredito Centrale
- Massimo Fabiano — Head of Business Development Corporate Debt, Banca Finint
- Andrea Martina — Partner, GA‑Alliance
- Giovanni Sabatini — Senior Advisor, GA‑Alliance
- Fabrizio Sadun — Head of Public Affairs Italy, GA‑Alliance
- Paola Sepe — Counsel, GA‑Alliance
Key takeaways
- The Basket Bond is a practical solution for SMEs seeking medium‑ to long‑term capital while retaining flexibility.
- Structure and public guarantees make the securities more attractive to institutional investors.
- An experienced arranger and specialised legal counsel are decisive factors for a successful issuance.
We thank the speakers and the nearly 100 participants for a substantive, action‑oriented discussion that laid the groundwork for new financing opportunities across the Lazio region.
Our Team
