Following the successful conclusion of the negotiations with the main credit institutions for the debt rescheduling and the granting of new finance in support of the 2020-2025 Business Plan already communicated to the market on 3rd April 2020, we inform you that today the final agreements with the credit institutions have been finalised, as part of the wider financial maneuver underlying the above Business Plan.
More specifically, the Company concluded:
- a bank debt rescheduling agreement for a total amount equal to approximately 450 million euros expiring on 31st December 2023 with the right for the Company to request a further extension of the final deadline to 31st December 2025;
- a contract for granting unsecured lines of credit in pool, which provides for new committed guarantee facilities for approximately 339,8 million euros, aimed at ensuring the Company's operations and the related collection of new orders; the contract also provides that such amount can be gradually increased for a maximum amount of 568,3 million euros overall - such amount being related to the guarantees already issued by the pool of banks in favor of the Company on a bilateral basis and outstanding as of 31 st December 2019 - subject to the expiration, final cancellation and release of each of the above guarantees;
- an agreement providing for the Company's option to extend the final maturity of the financing contract for 100 million euros, concluded on 31st December 2019, until 30th June 2021.
For any further details on the approval of the financial maneuver in support of the Strategic Plan, on the measures envisaged therein and the negotiations with the credit institutions please refer to the press releases published on 3rd April 2020 and 20th April 2020.
