27 November 2013 8:29
Price Sensitive extraordinary operations

Euro 135 million mortgage loan

Yesterday, Immobiliare Grande Distribuzione SIIQ S.p.A. (the “Company”) has entered into a mortgage loan agreement with BNP Paribas (Italian Branch) for an amount equal to EUR 135 million.

The loan will be used to repay the remaining EUR 107.1 million of the EUR 230 million Convertible Bond (3.50 per cent due 28 December 2013), which was partly repaid via an exchange offer on 18 April 2013.  The balance of the funds will be used to support the development plans of the Company.

The loan has a five-year maturity and a spread of 425 basis points over 3-Month Euribor. The drawdown will occur within 15 days of the signing date. The loan agreement contains typical provisions for a transaction of this type.

“The confidence placed in us by a leading European bank such as BNP Paribas confirms the good standing of the Company and represents an excellent starting point for next year’s initiatives” said Claudio Albertini, Chief Executive Officer of IGD – Immobiliare Grande Distribuzione SIIQ S.p.A.