(Finance) – Campari has successfully placed new ordinary shares, with a nominal value of 0.01 euros each, for a gross proceeds of approximately 650 million, with an accelerated bookbuilding offer placement, at 9.33 euros per ordinary share and a total nominal amount of senior unsecured convertible bonds maturing in 2029 of 550 million.
As foreseen in the Courvoisier acquisition announcement of 14 December 2023 regarding the various financing alternatives, with this Placement the Group has taken advantage of the favorable market conditions to optimize the financing structure.
The net proceeds of the Placing will be used by the Issuer to finance the Transaction and for general corporate purposes.
The Placement “will improve the pro forma capital structure of the Group by accelerating the deleverage process and will extend the average maturity of the Group’s liabilities, thus further strengthening the financial profile of the Issuer, enabling further growth”, explains the company in a note.
(Photo: © Campari)