Kruso Kapital is listed on Euronext Growth Milan and part of the Banca CF+ Group. It operates as a financial intermediary authorised under Article 106 of the Italian Consolidated Banking Act (Testo Unico Bancario, TUB) and is active in the provision of financing through pawn lending, with branches in Italy, Greece and Portugal.

The transaction, representing Kruso Kapital’s first bond issuance, was structured as a private placement addressed to institutional investors. The bonds have a 3-year maturity, expiring in 2029, and provide for bullet repayment at maturity, with the option to reopen the issuance. The notes bear a floating interest rate indexed to six-month Euribor, with semi-annual interest payments.

Cherry Bank acted as arranger of the transaction as well as initial subscriber of the notes, while Banca Valsabbina served as paying agent. The bonds were subscribed by several institutional investors, including leading banking institutions.

The Hogan Lovells team that advised Cherry Bank was led by managing partner Italy Patrizio Messina together with partner Sabrina Setini and included senior associate Pietro Tirantello and associate Nicoletta Brodo.

The issuance forms part of Kruso Kapital’s strategy to diversify its funding sources and access the capital markets, in line with a structured medium- to long-term growth plan.