16 October 2018 19:54
Price Sensitive extraordinary operations

The Company and a pool of lenders, including BNP Paribas Italian Branch, also as Mandated Lead Arranger, Underwriter, Global Coordinator and Bookrunner, executed a facility agreement for an amount equal to Euro 200 million

With reference to the press release issued on September 6, 2018, IGD – Immobiliare Grande Distribuzione S.p.A. announces that today it has executed with a pool of lenders, including BNP Paribas Italian Branch, acting also as Mandated Lead Arranger, Underwriter, Global Coordinator and Bookrunner, a facility agreement pursuant to which the relevant lenders make available to the Company a senior unsecured facility of Euro 200 million, with three years maturity and an extension option in favor of the Company up to five years.

It is envisaged that the facility will be utilized in two tranches, the “Tranche A” equal to Euro 125,000,000.00 aimed at refinancing the bond issued by IGD – Immobiliare Grande Distribuzione S.p.A. for an original total amount of Euro 150,000,000 and still outstanding for Euro 124,900,000, with maturity on 7 January 2019, and the “Tranche B” equal to Euro 75,000,000 aimed at extinguishing certain short-term credit lines of the Company as well as at financing the general corporate purposes of the IGD Group.

By means of this transaction, IGD Immobiliare Grande Distribuzione S.p.A. will finance itself bearing a lower cost compared to the current average debt cost, further reducing the debt cost as well as covering its financial needs for the years to come, as the Company is not expected to incur in any significant financial deadline until 2021.