(Finance) – Notorious Picturesa company active in the entertainment sector for the production, acquisition and marketing of film rights, has successfully completed the issuance of a non-convertible bond for an equivalent value of 8 million eurosrepresented by 80 bonds with a nominal value of 100,000 euros each, through participation in the Euronext Growth Basket Bond Program, a structured operation, with the basket bond technique, by Banca Finnat Euramerica as Arranger.
The bond loan, expiring in October 2029, will be of the amortizing type, with payment of the first installment, including the principal, in April 2024. The bonds will bear interest at gross annual nominal fixed rate equal to 6.06%to be paid in half-yearly installments in arrears.
The regulation of the bond loan provides, in particular, specific covenants of an economic-financial naturerelating to compliance with predefined threshold values in terms of Total Net Debts/EBITDA and Total Net Debts/Shareholders’ Equity.
The company will use the resources from the bond to finance the group’s growth programs in Italyincluding, by way of example and not limited to, the increase in the number of films acquired for distribution, the increase in the number of films produced and the production of TV series with the aim of consolidating and strengthening the positioning within the reference sector.
(Photo: Krists Luhaers on Unsplash)