(Finance) – Tesmec successfully completed the placement of a non-convertible bond loanunlisted and unguaranteed, called “Tesmec SpA Euribor 6M + 3.65% 2024-2029 – Amort Euro 8,000,000”, represented by 80 bearer securities with a nominal unit value of 100,000 euros and a total principal amount equal to 8 million euros.
The bond loan was fully subscribed by Mediocredito Centrale, Finlombardafinancial company of the Lombardy Region, and by Finint Bank. The operation was structured and placed by Banca Finint which also acted as Agent Bank for the operation.
The bond loan has an annual gross nominal variable interest rate equal to the rate Euribor 6M + 3.65%net of any step-ups connected to compliance with certain financial parameters, expiring on 19 December 2029 and a amortizing reimbursement with a pre-amortization period of 12 months starting from the issue date during which Tesmec will be required to pay only the accrued interest. The regulation of the Bond Loan provides standard covenants for this type of transaction.
“The net proceeds deriving from the placement of the bond will be used to support the development strategy envisaged in the Company’s industrial plan, for the realization of new investments, including projects and/or investments in the territory of the Lombardy Region and in central-southern Italy, as well as investments functional to growth abroad”, Tesmec specified in a note.