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Hotel Group Issues Invitalia bond

According to an inside source, a primary medium-sized domestic hotel group is about to close the issue of a bond loan. The operation, one of the first Invitalia places in support of hotel chains, is shaping up to be an innovative financial tool aimed to back the development of hotel groups.
In this context, Invitalia, through the «Fondo Patrimonio PMI» (SME Investment Aid), underwrites newly issued bonds, the redemption of which takes place at the end of the sixth year from the subscription (the possibility of an early redemption is envisaged after the third year from the subscription).
The subsidized rate is set at 1.75% for the first year, 2% for the second and third year and 2.50% for the remaining three years, with deferred interest paid annually.
There is also a bonus (5% loan reduction for each goal achieved) if the company reaches a series of targets: employment, environmental and technological.