Altria Corpo obtains 50 million in financing for its clients up to June

The wide variety of financial solutions obtained is the main feature in a year marked by the exit of the pandemic and the restriction of bank credit in a context of inflation and probable recession.

The financial consultancy Altria Corpo, which specialises in advising medium and large companies on financing, raised 50 million euros in financing for its clients in the first half of the year, with more than 30 transactions successfully advised.

In a context of great difficulty in accessing bank credit, the firm has obtained very varied and innovative financial solutions, both from the banks themselves and from alternative financing.

Some of the most significant operations have been the Sale&Lease-back of an industrial building for a company in the metal sector, for which the company obtained a liquidity of 2.8 million euros to undertake its business plan; a mortgage loan of 1. 2 million second-ranking mortgage loan on its facilities granted to an industrial company by a public financing institution; a loan of 5 million euros to a plastic packaging company granted by a debt or direct lending fund; the financing of the acquisition of an industrial company in a 50% leveraged operation thanks to the ICF; and the advisory and execution of a 7.2 million euros syndicated loan for an industrial company, with the participation of seven financial institutions.

Likewise, in a difficult context for many companies, after two years of reduced income due to the pandemic, Altria Corpo has advised some clients in the novation of Covid-19 loans with ICO guarantee, in the search for alternative financing to complement bank financing and reinforce the liquidity of companies, or in the processing of operations of the Fund for the Recovery of Companies affected by Covid-19 (FonRec) managed by Cofides. Of the latter FonRec operations, it is worth highlighting the financing by means of personal loans and equity loans for a total amount of 4,300,000 euros to an important catering group.

As Ramiro Lama, Altria Corpo’s partner and head of financing, points out, “it is in operations of more than one million euros and where companies have more difficulties in obtaining financing, where Altria Corpo can give more added value to the relationship with its clients. Altria’s in-depth knowledge of all the financial solutions available on the market and its ability to structure a proposal adapted to each need are the reasons why medium-sized companies find in Altria the right partner for their search for financing“.

The first half of 2022 also saw important milestones for Altria, such as the strong boost in activity in Madrid with the incorporation of Rubén Huertes and Fede Suárez, and the consolidation of the alliance with PKF Attest in areas that complement Altria Corpo’s offering, such as Corporate Finance, Debt Capital Markets, Technology and Legal and Tax Advisory, among others.

Altria is a Barcelona-based firm founded in 2014 by Albert Gumà. Its clients are medium and large companies, to which it offers its expertise in all types of debt and equity financing, and access to more than 170 financial providers including banks, alternative financing, public financing, debt funds and other instruments. In its almost ten years of existence, Altria Corpo has positioned itself as a benchmark in the search for financing for medium and large companies, with an accumulated amount advised of more than 350 million and more than 600 operations. The scope of the companies advised covers the whole of Spain, with a concentration in Catalonia, which represents 70% of the total volume advised.

Altria Corpo and PKF Attest support companies in applying to the COFIDES Recapitalisation Fund

The COFIDES Recapitalisation Fund aims to quickly and effectively strengthen and restore the solvency of medium-sized companies (between 10 and 400 million euros in consolidated turnover) in any sector which, having no viability problems prior to the COVID-19 crisis and being viable in the medium and long term, are being affected by the effects of the pandemic.

In addition, those companies that exceed 400 million euros and justify not having been able to access the SEPI Support Fund, because they do not reach the minimum amount of support provided for in this fund, may also apply for and be beneficiaries of the Cofides Recapitalisation Fund.

  • Maximum total amount to apply for:
    • Large Enterprise: between EUR 4 million and EUR 25 million per beneficiary.
  • Type of instruments:
    1. Equity instruments and/or equity hybrids (participating loans): the minimum amount necessary to ensure viability and not to improve the capital structure at 31/12/19 (measured as Equity / Net Financial Debt).
    2. Other additional credit facilities (normally ordinary loans): the most favourable amount for the company resulting from (i) 2 x annual wage costs 2019, (ii) 25% total turnover figure 2019
  • Term:
    • Equity instruments and/or equity hybrids: maximum 8 years (up to 2029)
  • Remuneration (margin):
    • Equity instruments and/or equity hybrids:
Beneficiary typeYear 1Year 2 and 3Year 4 and 5Year 6 and 7Year 8 ff
Large companies2.50%3.50%5.00%7.00%9.50%
  • Other complementary credit facilities:
Beneficiary typeYear 1Year 2 and 3Years 4, 5 and 6Minimum
Large companies2.50%3.50%5.00%7.00%

Such aid may be granted until 30 June 2022.

In the next post we will detail the eligibility criteria.