EPTA HAS SIGNED A SHELF FACILITY FOR THE ISSUANCE OF NOTES THROUGH A US PRIVATE PLACEMENT PROGRAMME.

11/03/2016

Notes with a value of EUR 20 million have been placed, with a 7-year bullet, at a fixed interest rate of 2.30%. The shelf facility that has been signed with Pricoa Capital Group provides the possibility of placing new issues up to an overall value of US$ 120 million (or EUR equivalent).

 

Milan, 10 March 2016 – Today Epta S.p.A. has completed the issue and placement of notes through Pricoa Capital Group – a trading name of Prudential Financial, Inc. of the United States (NYSE:PRU) and one of the main players in the private placement market – with a value of EUR 20 million within a shelf facility that provides the possibility to place new issues up to an overall value of US$ 120 million (or EUR equivalent).

The EUR 20 million notes have been issued in a single tranche with a 7-year bullet maturity and a 2.30% fixed interest rate. The shelf facility gives Epta S.p.A. and other companies of the Group the opportunity to ask Pricoa Capital Group to underwrite new issues over the next three years up to an overall value of US$ 120 million (or EUR equivalent).

Through this private placement, Epta S.p.A. will diversify its sources of financing and increase its flexibility. In this regard, the transaction will enable the Group to have more resources available in order to look at new strategic development opportunities with increasing confidence.

The shelf facility Epta S.p.A. has signed with Pricoa Capital Group confirms the solidity of this Company that has distinguished itself over the years for its reliability and ability to expand at a global level. The multinational group specialising in commercial refrigeration aims to continue growing through its international presence and the strength of its brands. It has set itself the target of reaching a turnover of 1 Billion Euros by 2020.

Joshua Shipley, Senior Vice President of Pricoa Capital Group states: “With this operation Pricoa Capital Group confirms once again its belief in Italian entrepreneurship which it has been investing in for more than 15 years” and continues “we are proud to support Epta S.p.A. in the process of strengthening its business, because this Group has forged its reputation on innovative and high quality solutions. Our purchasing of Epta’s notes is very well suited to supporting the Group in all phases of its development and we believe that this mechanism can be an interesting alternative to traditional bank financing.”

Marco Nocivelli, CEO of Epta S.p.A. comments: “We are extremely satisfied with the shelf facility we have signed. It is proof of the stability of the Company and the value of our strategic project. At this time the use of alternative financial instruments represents the best choice for the Company to support our development plans that have already propelled us amongst the main global players in the sector. We are confident that the placement that was launched today will be met with favour by the international financial community.”

Mediobanca acted as Sole Arranger, BonelliErede was the legal advisor for the Issuer while Morgan, Lewis & Bockius was the legal advisor for the Investor.