Banca Intesa arranger and sponsor of another issue of mini bonds without collateral

Banca Intesa, part of the international banking group Intesa Sanpaolo, has proudly taken on the role of arranger and sole sponsor of the bond issue with the purpose of financing the further development of one of the largest hotel and tourist complexes in the country - Fruške Terme. The bond issue represents a significant step forward towards further improvement of the quality of services and facilities within the tourist complex, which encourages economic growth, increases the attractiveness of the destination and contributes to the development of the entire tourism economy of Serbia.

A new issue of mini bonds, worth 820 million dinars, was carried out by the company Promont Group d.o.o. Novi Sad, within which this hotel and tourist complex operates. The issue was approved based on an analysis of financial indicators, development and business plan, with a maturity period of seven years, with a grace period of two years and without solid collateral. In addition, this project is an important step towards creating new employment opportunities, attracting a larger number of domestic and foreign tourists and strengthening the image of Serbia as a modern and desirable destination.

"The successful realization of the third issue of mini bonds in just two months confirms the justification of our strategic approach to the introduction of this innovative financial instrument, pointing to the real needs of small and medium-sized enterprises in our market to diversify sources of financing in providing capital for further growth and development. As an arranger and sponsor of issues, Banca Intesa provides SMEs with simpler and more efficient access to the capital market, while at the same time diversifying its own support to all segments of the economy, contributing to the strengthening of their competitiveness and sustainability, as well as the resilience of the entire economy", said Darko Popović, President of the Executive Board of Banca Intesa.

Mini bonds are an alternative form of financing for small and medium-sized enterprises (SMEs) that want to provide capital for key development initiatives, including expansion of production, diversification, internationalization of operations and acquisitions.