sapphire remodulates its debt and with a new loan and extends its duration. The company, listed on Euronext Milan, which creates, produces and distributes eyewear and sunglasses, has entered into a new loan agreement for a total 300 million euro with expiry September 2027.
The new operation provides for a Term Loan line from 150 million euros, one Revolving line from 75 million euros and one Capex line by millions of euros.
The new Term Loan line, explains a press release from Safilo, allows the simultaneous early repayment of the entire bank debt currently represented by the Term Loan Credit Facility signed in 2018 maturing June 2023 which is equal to 35 million euro in June 2022 and by the SACE Term Loan Credit Facility signed in 2020 maturing June 2026 which is equal to 108 million euros in June 2022. The operation “extends the duration of the financial debt of the group and provides the necessary financial resources to support the growth of the group in the years to come”, underlines Safilo.
The stock trades on the Stock Exchange in the morning at 1,267 euro, up by 2,51 pct. The new loan agreement was signed with a pool of banks made up of BNP Paribas, BNL, ING, Intesa Sanpaolo and Unicredit.
