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Feb. 2022
Energy Infrastructure

LBO France: VITA Superbonus for climate resilience and sustainability

Rome, 31  January  2022  –  EnergeaLBO  – LBO France’s  team dedicated to climate resilience infrastructure  invesments – brings live VITA Superbonus.

 The program, developed in Italy within the VITA credit platform pivoting solutions from the Decreto Rilancio, gives access to different categories of investors superior returns from investments in debt of structural improvement and energy efficiency projects on residential and commercial properties, while offering general contractors and construction companies a flexible bridge financing  opportunity, alternative to the traditional banking channel.

Under the program, italian SMEs will issue bonds and use the bonds proceeds to finance construction costs. The tax credits, generated from discounting the works, as provided for by the Decreto Rilancio, are transferred to primary offtakers through dedicated agreements. The bonds have an 18 months term and, with the controls and in-depth checks carried out on each file by the NSA Group, are guaranteed  by the Fondo Centrale di Garanzia managed by Mediocredito Centrale. VITA Superbonus operates through a risk-tranched capital stack,  including equity, mezzanine and senior capital, tailored to the the needs of different types of investors, such as specialized funds and banks.

VITA Superbonus will operate through  the Property Improvements Bonds subfund series of the FIPS VITA fund. The first subscription targets about 20  “mini-green bonds”, for a value of  about  €  100milioni. The senior risk was underwritten by IMI – CIB of  Intesa Sanpaolo, the junior risks by funds managed by  Azimut,  P&G Spa, Glennmont,  Phinance, and by LBO France itself, which is also Manager of the vehicle.

VITA Superbonus is positioned as a real partnership platform between various stakeholders – including building  owners, small and medium-sized enterprises,institutional andnon-institutional investors – which offers companies in the sector a turnkey solution  where the tax credit represents the collateral and not the trade objective.

VITA Superbonus pursues 5 of the United Nations Sustainable Development Goals (SDGs), as it facilitates the creation of affordable, reliable, sustainable and modern energy systems; helps the creation ofjobs; improves the quality of the Italian building heritage by making it safer, more durable and sustainable,stimulating the adoption of concrete measures  to combat climate change.


Pietro Zerauschek, Head  of  EnergeaLBO, commented: “VITA  Superbonus represents a unique and innovative solution to meet the needs of professional investors looking for alternative solutions with a superior risk/return profile, contributing to  the  innovations  introduced by the Government with the Decreto Rilancio as recently  extended. On the basis of the demand we are already working on expanding the opportunity both on the capital side (also thru alternative structures) and to additional contractors. The success of the initiative is a proof of the effectiveness of EnergeaLBO specialized structured credit solutions for climateresilience.”