Argomento: Obbligazioni

Estra Spa 2.45% 11/2023

Euro 80 million bond issue completed successfully. Mandate assigned to Banca IMI

28 novembre 2016

On 28 November 2016 S.p.A. successfully issued an unsecured non-convertible € 80 million bond loan (guaranteed by the subsidiary Centria S.r.l.), subscribed by institutional investors. The bonds, with a maturity of 7 years, listed with the regulated Dublin Stock Market, have a 2.45% coupon. The transaction, which confirms Estra’s presence on the international bond market, will be used to finance the Group’s activities, helping to optimise the Group’s flexibility and financial strength.
Banca IMI served as Lead Manager and Sole Bookrunner for the issue. White & Case served as legal consultant for Estra, while Gianni, Origoni, Grippo, Cappelli & Partners served as legal consultant for Banca IMI.
In particular, the issue represents an additional step towards diversification of financing sources for Estra, improving the Group’s debt profile by increasing the average duration. The transaction confirms Estra’s ability to finance its own activities through the capital market and investors’ interest in supporting the Group’s strategic plan. The issue offered subscribers the possibility to invest in a company that ended 2015 with consolidated net profit of Euro 33.9 million (10.2 million in 2014).

For informations:

Useful Documents:
Estra - Final Prospectus
Compliance Certificate 2016
Compliance Certificate 2017
Compliance Certificate 2018

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