IMA announces the placement with European institutional investors of the non-convertible bond loan of 80 million, represented by two separate issues of the same amount and already authorized by the Board of Directors on 29 April.
"The issue of the debenture loan, not backed by guarantees - writes the packaging company in a note - allows for a diversification of supply sources and the proceeds from the same will be used to finance the various activities of the Group".
The securities representing the two issues, it is underlined, will have no rating and will have a duration of five and seven years respectively. The settlement of the issues and the admission to trading of the securities on the multilateral trading facility managed by the Luxembourg Stock Exchange (Euro MTF Market) is scheduled for 13 May 2014.
The capital will be repaid at par in a lump sum at the respective maturities, subject in any case to the cases of early repayment governed by the securities regulations. The bonds will accrue interest from the date of issue at a fixed rate of 3,875% for five-year bonds and 4,375% for seven-year bonds.
