Borsa Italiana Launches ExtraMOT PRO

21/03/2013

Borsa Italiana has today broadened its bond market offering with a new professional segment on its ExtraMOT market, dedicated to the trading of debt instruments issued by both listed and unlisted Italian companies.

The new segment, called ExtraMOT PRO, has been launched to offer listed and unlisted Italian companies of any size a national market on which to benefit from opportunities arising from recently-implemented regulatory reforms (Decree-Law No. 83/2012).

ExtraMOT PRO is specifically targeted at professional investors, and adopts a more flexible regulatory approach in terms of admission and disclosure requirements. This reduces the time and cost associated with listing, while retaining an appropriate level of regulation for participants.

As part of London Stock Exchange Group, the new segment will offer issuers exposure to a broad, international network of professional investors.

The first products to be listed on ExtraMOT PRO will be bonds issued by Cerved Technologies, a company controlled by Cerved Group and recently acquired by British private equity firm, CVC Capital Partners for €1.13 billion.

Cerved Group is a leading Italian provider of credit information about both listed and unlisted companies. It also operates a well-known database on solvency companies.

Pietro Poletto, Head of Fixed Income Markets, London Stock Exchange Group, said:

“With the introduction of this new segment we can play an important role in the evolution of debt capital fundraising, as issuers seek alternatives to traditional bank lending across Europe. ExtraMOT PRO provides companies with a flexible and accessible route to a specific section of the public fixed income markets, without an overbearing listing process.The new segment is part of ExtraMOT, the fixed income MTF operated by Borsa Italiana, which counts the European Central Bank among its issuers”.

Gianandrea De Bernardis, CEO of Cerved Group added:

“We are delighted to be among the first issuers on this new segment launched by Borsa Italiana. It represents an important alternative to bank funding for Italian companies’ that are looking to access capital.”