Banca Intesa issues first mini bonds without collateral

Banca Intesa, a member of the international banking group Intesa Sanpaolo, has realized the first issue of mini bonds without collateral in Serbia, further confirming its leadership position in introducing market innovations and supporting the development of small and medium-sized entreprises (SMEs).

The first mini bonds worth 470 million dinars, under the arangement of Banca Intesa, were issued by Diopta, the leading chain of optical stores in the region, with the aim of expanding its retail network. The mini bonds have a maturity of seven years, including a two-year grace period, and the issue was approved on the basis of an assessment of the issuer's business plan and solvency, with no requirement for hard collateral. 

Mini bonds are an alternative source of financing intended for SMEs that aim to develope and improve their businesses through the introduction of new products, expansion of production and sales capacities, new market entry or acquisition of other companies. As the arranger and sponsor of the issue, Banca Intesa underwrites the entire amount of mini bonds, which ensures speed of implementation and security of transaction for all participants.

The introduction of mini bonds in the Serbian market is part of the Minibond initiative of the Intesa Sanpaolo group, aimed at strengthening sustainable economic growth and the development of capital markets in the region. In Croatia, 60 million euros of investments have already been made in the first six months of this initiative, while mini bonds have recently been made available in Slovakia as well.