Press Releases - BFF Banking Group
News & Media
Rekeep S.p.A. (“Rekeep”), the parent company of the leading Italian group in the Integrated Facility Management sector, announces a new three-year term agreement with BFF, the leading player in Europe specialized in the management and non-recourse factoring of trade receivables due from the Public Administrations and National Health Systems.
More specifically, the agreement provides for the non-recourse assignment of receivables claimed from National Health Service Entities and Public Authorities and replaces the previous agreement that was executed in December 2018, increasing its value from Euro 200 to Euro 300 million, also ensuring a greater efficiency in liquidity management, which is typical of revolving agreements.
“The agreement signed with BFF Bank is very important for the Group since it allows us to pursue a twofold objective: optimise the overall cost of the Group’s debt, in line with the trend of all the sources of financing, which has been achieved even following the recent global refinancing, and increase the credit facility with respect to the previous agreement" said Luca Buglione, Chief Financial Officer of Rekeep “Moreover, the transaction confirms and strengthens our strategic partnership with BFF Bank, which since 2015 has been providing full support to our Group, not only in the domestic market, but also on a prospective basis with a view to our international growth."
Michele Antognoli, VP Factoring & Lending, BFF Banking Group, said: “This new agreement with Rekeep makes us proud of a long collaboration, during which both Groups have grown in Italy and abroad, demonstrating a dedication to innovation and efficiency in their respective business areas. We are confident that this three-year agreement, on a revolving basis, will support Rekeep's further growth resulting from services to the Public Administration.”