November 27, 2020 - Today Exprivia S.p.A., a company listed on the MTA market of Borsa Italiana [XPR.MI], has signed with a pool of banks including Banca Popolare di Puglia and Basilicata S.c.p.a., in the role of arranger and lender, Banca Popolare Pugliese S.c.p.a. in the role of lender, Banca Finanziaria Internazionale S.p.A. in the role of agent bank, and SACE Agent, a funding contract consisting of a medium-term cash credit line, equal to 20 million euros, to be repaid within six years, two of which are pre-amortized.

The operation is aimed at supporting investments and financing working capital after the Covid-19 impact, and is assisted by the Garanzia Italia issued in a short time by SACE, to guarantee 90% of the amount of the loan, pursuant to the Decreto Liquidità (Legislative Decree no. 23 of 08/04/2020 converted into Law no. 40 of 05/06/2020).

The Loan provides, as conditions, commitments and contractual terms in line with the standards for the bank credit market for loans of the same amount and duration, as well as a ban on the distribution of dividends and/or the purchase of treasury shares in the 12 months following the date of Application for the Loan, as provided for by the Decreto Liquidità; subsequently, a restriction on the distribution of dividends, which may not exceed 25% of net profit.
The law firm Simmons & Simmons LLP assisted the pool of banks.

"We are very pleased to have obtained this loan - declared Donato Dalbis, Finance Director at Exprivia - which allows us to strengthen the company's financial structure in a particularly critical period for the global economy. We have worked very well with the banks in the pool, the agent bank and SACE, confirming the trust placed in our group and the important role that local banks can play".