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Banco Bpm organizes the debt restructuring of the Saviola group

The Milanese bank has organized the 131 million loan, disbursed by a group of banks, which allows the economic-financial rebalancing envisaged in the business plan for 2018 to be achieved in advance

The Saviola Group (Saviola Holding Srl) shortens the deadlines for debt restructuring and ensures the achievement of the objectives of the industrial plan ahead of time thanks to a loan of 131 million organized by Banco Bpm. The industrial group, the leading Italian manufacturer of chipboard panels and one of the top international players in the sector, operating through the chemical, wood and RTA furniture business units, announced in a press release that it had "carried out an important reorganization operation of the 'medium-long term debt exposure, aimed at redefining its financial structure by virtue of the early achievement of the economic-financial rebalancing objectives envisaged by the corporate recovery plan adopted in 2013 (with a time horizon of 2018)".

The group specifies that it has undertaken a process of rebalancing its financial position since 2013 which has brought "excellent results".
“The reorganization implemented – explains the note from the group – is part of a wider financing operation
organized by Banca Popolare di Milano SpA which played a central role as mandated lead arranger and agent bank. The loan, for a total amount of Euro 131.000.000,00, was granted by a pool of banks, led by BPM SpA, made up of Banca Monte dei Paschi di Siena SpA, Banca Popolare di Sondrio ScpA, Banca Popolare di Vicenza SpA , Crédit Agricole Cariparma SpA, Credito Valtellinese SpA, KBC Bank NV, UniCredit SpA and Unipol Banca SpA. Fivesixty Srl, in the person of Massimo Minolfi, acted as shareholder consultant. Saviola made use of PricewaterhouseCoopers as financial advisor and of the Gattai, Minoli, Agostinelli & Partners firm for legal assistance in the transaction. Banco Bpm was assisted by the Pavia e Ansaldo studio, the Belgian bank KBC Bank NV was assisted by the partner Matteo Bragantini of the Studio
Gianni, Origoni, Grippo, Cappelli & Partners. The Belgian law aspects of the transaction were followed, respectively, by Studio NautaDuthil, for the Saviola Group, and by Studio Altius, for banks.

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