(Finance) – Saras today signed a new loan of 312.5 million Euros, backed for 70% of the amount by guarantee issued by SACE thanks to the provisions of the “DL Sostegni bis”, with the aim of reshaping the debt maturity profile of the Group.
The loan – explains a note – was organized and signed by a pool of leading Italian financial institutions, consisting of Banco BPM, Intesa Sanpaolo – IMI Corporate & Investment Banking Division and UniCredit as Mandated Lead Arrangers and Lending Banks. Intesa Sanpaolo – IMI Corporate & Investment Banking Division will cover the role of Custodian Bank, Agent Bank and SACE Agent.
The disbursement it will take place in a single installment and the repayment plan provides for a pre-amortization period of 36 months and a repayment in 12 constant quarterly installments starting from 30 June 2025 and up to 31 March 2028, the maturity date of the loan.
The proceeds will be used to repay early the bond loan of 200 million euros, maturing on 28 December 2022 and the medium-long term loan of 50 million euros, maturing on 14 August 2023. The remaining 62.5 million euros will be used. to support the Company’s working capital, in line with the provisions of the SACE regulation.
The Gianni & Origoni law firm assisted the Company, the Chiomenti firm assisted the lending banks, Clifford Chance assisted SACE.
(Photo: Piotr Trojanowski / 123RF)