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Safilo confirms the execution of a new financing agreement of Euro 150 million

Padua, October 29, 2018 – With regards to the comprehensive refinancing plan announced on 26 September 2018, the Group now confirms the execution of a new financing agreement of Euro 150,000,000.00 (the “New Credit Agreement”), including a Term loan facility of Euro 75,000,000 and a Revolving Credit Facility of equal amount, both maturing on 30 June, 2023, between Safilo S.p.A. and a pool of banks composed by Banca IMI S.p.A., BNP Paribas Italian Branch and Unicredit S.p.A. as arrangers, BNP Paribas Italian Branch, Intesa Sanpaolo S.p.A. and Unicredit S.p.A. as lenders, and Unicredit S.p.A. as agent bank.
The New Credit Agreement can be partially syndicated and increased up to a maximum amount of Euro 200,000,000 having new lenders possibly accessing the agreement.

Upon redemption at maturity of the Euro 150,000,000 Equity Linked Bonds 2019, to which the proceeds of the capital increase are in the end substantially devoted, the Group will then continue to benefit from the support of its lending banks in order to pursue the growth and development targets set forth in the Group’s business plan approved by the Board of Directors of the Company on 2 August 2018.

In the framework of the capital increase in progress, the Group has also requested and obtained from its lenders the extension of the maturity date of the current Revolving Credit Facility amounting to Euro 150,000,000, from 30 November 2018 to 31 January 2019, as well as the waiver of the covenant tests as of 30 June 2018 and 31 December 2018, conditional upon approval of the Euro 150,000,000 capital increase by the Extraordinary Shareholders Meeting of the Company to be held today.

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Last updated: May 9, 2019

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