AUTONET Gian Carlo Bertoni Torino 1 ° of June 2012 Promotion and Marketing Department
SIMEST Is a Financial Institution controlled by the Italian Ministry for Economic Development, participated by leading Italian Banks and Confindustria – the General Confederation of Italian Industry SIMEST provides financial instruments and services to support Italian companies on foreign markets
SIMEST supports Italian Companies in all phases of development abroad Company activities SIMEST instruments Company activities Company activities SIMEST instruments SIMEST instruments Interest rate subsidy and stabilization for Export of capital goods export credits Beneficial-rate loans for programmes for the Development programmes inclusion on foreign markets Improving and safeguarding SMEs Financing of the capitalization of exporting SMEs equity solidity Search of business opportunities Business scouting and match making activities Feasibility studies or technical Financing with subsidiazed interest rate assistance programmes in non EU countries tied to Italian investment abroad In non EU countries: � SIMEST (and Venture Capital) equity participation in the foreign company � Interest rate reduction on the financing of the Investing in foreign companies Italian Company equity share In EU countries: � SIMEST participation in the capital stock of Italian companies and for their subsidiaries in EU Technical Assistance and training Subsidised financing of technical programmes assistance programmes
Support for export credits To allow Italian exporting firms to offer foreign buyers/contractors medium and long-term deferred payment on terms that are in line with those granted by competitors in other OECD countries (Supplier credits, Buyer credits)
Support for export credits Machinery and plant installations, studies, Eligible exports services in all countries Italian businesses Up to a maximum of 85% of the value of the Support available export contract (at least 15% in cash). The amount of financing eligible for support is up to 100% of the value of the goods and services of Italian origin
Support for programmes to break into foreign markets Financing of programmes for the inclusion on Purpose foreign markets, aimed at the launch and spread of new products and services, or at the acquisition of new markets for existing products and services Eligible countries The programme must be implemented in countries not belonging to the European Union Eligible expenses • Structural costs (setting up and running of permanent structures, etc.) • Promotional costs (shows and trade fairs, advertising, training, consulting, etc.) • Miscellaneous intervention costs (25% of the total of all previous costs)
Support for programmes to break into foreign markets Duration of The programme must be developed in the period running as from the date on which the application financing is presented. It must be completed 2 years after the loan agreement is drawn up. The loan will be repaid over the next 5 years. These periods may be reduced upon request by the business Fixed for the duration of the financing and equal to Interest rate 15% of the reference rate. In any case, this rate must be no less than 0.50% annually
Financing for the capitalisation of exporting SMEs Financing aiming to stimulate, improve and Purpose safeguard the solidity of the equity of SMEs that have recorded average export sales for the last three years accounting for at least 20% of the total, and which, at the time of supply, are constituted in the form of an SpA The loan may not exceed € 500,000.00 and 25% of Support available the capital stock of the applicant business. The loan will be supplied in accordance with the application of the Community ‘de minimis’ Regulation
Financing for the capitalisation of exporting SMEs Stage of financing • The first stage – supply and pre-amortisation stage – starts as from the date of supply and ends at the end of the 2nd year subsequent to that date. • The second stage – repayment stage – starts at the end of the supply and pre-amortisation stage and ends 5 years later
Financing for pre-feasibility and feasibility studies and technical support Purpose To provide financial support for Italian businesses, undertaking pre-feasibility and feasibility studies or implementing technical assistance programmes in non-EU countries. Eligible initiatives a)Expenses related to feasibility studies connected to Italian investments abroad; b)Expenses related to technical support programmes connected to Italian investments abroad. Eligible expenses For feasibility studies, these include salaries for in-house employees, fees due to consultants or experts and travel strictly linked to the study to be carried out. For technical assistance, these include all costs deriving from training, teaching, travel and other expenses related to the investment.
SIMEST Equity participation in extra EU companies To promote investments of Italian companies in Objectives foreign enterprises. SIMEST participation up to max 49% of the foreign company equity, for a duration of 8 years max. Terms The acquisition of equity shares by SIMEST can be related either to new or already existing companies.
Equity shareholding in extra EU companies Support Financing support covers 90% of the applicant available for Italian company’s equity share, up to 51% of the financing investee company’s total capital. Therefore, if Italian share the equity capital exceeds 51%, the financial support is equal to 90% of 51% of the foreign company’s capital
Venture Capital Fund SIMEST + VCF Terms Maximum share of 49% of the total equity of the local company. SIMEST + FVC share, in any case, will not be higher than the total share held by the other Italian partners. max. 8 years, in any case within the terms Duration established for SIMEST participation No guarantee is required for the buy-back Guarantee of the VCF share. For the VCF share a remuneration is due Remuneration equal to the European Bank rate + 0,50 spread.
SIMEST and the Venture Capital Fund Private Partners SIMEST + Serbian Up to 49% Italian foreign Venture company Capital Fund Interest rate support for financing Italian share
SIMEST FROM IDEA TO BUSINESS How we can support joint venture projects abroad 1. Exploratory phase and project definition Subsidised financing of the feasibility study Subsidised financing of the feasibility study Advisory and financial assistance Advisory and financial assistance • Technical, legal and corporate assistance • Planning and implementation of the investment project • Economic and financial analysis
SIMEST FROM IDEA TO BUSINESS How we can support joint venture projects abroad 2. Financial structuring of the project Financial assistance services Financial assistance services • Assistance for project funding
SIMEST FROM IDEA TO BUSINESS How we can support joint venture projects abroad 3. Risk Capital Local partner SIMEST share SIMEST Participation SIMEST Participation VCF Participation VCF Participation VCF share* Contribution for interest reduction on Italian share Contribution for interest reduction on share financing share financing (private partners) (*) max participation SIMEST+VCF = 49%
SIMEST FROM IDEA TO BUSINESS How we can support joint venture projects abroad 4. Training programme for local staff Subsidised financing of training costs Subsidised financing of training costs
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