(Alliance News) - The board of directors of Tamburi Investment Partners Spa on Wednesday evening approved the issuance of a nonconvertible, unrated, unsubordinated and unsecured bond in a nominal amount of EUR250 million; the company is given the option to increase the nominal amount of the bond up to an additional maximum EUR100 million, thus up to a total nominal amount of EUR350 million.

The approval provides for the loan to have a term of five years from the date of issue, a fixed interest rate, not less than 4.5 percent on an annual basis, coupons recognized on an annual basis, and a repayment at par at maturity, subject to certain assumptions of early repayment in

line with market practice, including the option of voluntary early redemption from the third year, and that the bonds are issued at par, with a denomination of EUR1,000.

The proceeds are expected to be used to finance the company's activities.

"Subject to the success of this new issuance and the existence of market conditions, the company would intend to proceed with the early redemption of the bond named "EUR300,000,000 2,500%. Bonds due December 5, 2024."

Tamburi closed Wednesday's session 2.1 percent in the red at EUR9.37 per share.

By Maurizio Carta, Alliance News reporter

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