Italian cheese firm sells Parmesan-backed bond

An Italian dairy cooperative, 4 Madonne Caseificio dell’Emilia, has sold bonds backed by Parmesan cheese, the company said on Tuesday, a rare example of one of the country’s plethora of small firms raising funding on capital markets.

The cheese-maker has done just that, raising 6 million euros ($6.55 million) in mini-bonds guaranteed by wheels of Parmesan.

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