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Maire Tecnimont Group Medium/Long-Term Bank Debt Optimization: Interest Rate Reduced From 1.95% To 1.70%

Milan, July 16, 2018 – Maire Tecnimont S.p.A. (“Maire Tecnimont” or the Company”) today announces - in completion of the Group funding diversification and medium/long-term debt refinancing previously announced to the market on March 15, 2018 on approval of the issue of the Maire Tecnimont S.p.A. “Senior Unsecured due 30 April 2024” bond, placed on the capital markets in April 2018 for a nominal amount of €165 million, and at an annual interest rate of 2.625% - that the subsidiary Tecnimont S.p.A. (“Tecnimont”) has agreed a new medium/long-term loan for a maximum amount of €285 million (the “New Loan”) with Banca IMI S.p.A., as Agent Bank, Banca Monte dei Paschi di Siena S.p.A., Banco BPM S.p.A., Intesa Sanpaolo S.p.A. and UniCredit S.p.A., as Lending Banks.

The New Loan specifically stipulates:

i)         the issue of a new medium/long-term Term Loan for a maximum €185 million, with €175 million allocated for the full repayment of the residual portion of the original €350 million Term Loan undertaken by Tecnimont and €10 million to top up the original loan;

ii)       the increase of the Revolving Facility already issued to Tecnimont, from €50 million to €100 million.

The New Loan further reduces the medium/long-term Group debt interest rate from 1.95% to 1.70%, extends the maturity from March 2022 to June 30, 2023 and amends the repayment terms.

The New Loan requires Tecnimont to provide representations and warranties typical of these transactions and, in line with the previous loan, requires that the transaction’s obligations are covered by a Parent Company guarantee issued by Maire Tecnimont in favour of the Lending Banks and in the interest of Tecnimont.

 

Maire Tecnimont SpA

Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas Refining, Petrochemicals and Fertilisers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 40 different countries, numbering around 50 operative companies and a workforce of more than 5,500 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com.

 

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Image Building

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