Italy's Esprinet banks agree to relax debt terms

MILAN Tue Jan 20, 2009 6:04am EST

MILAN Jan 20 (Reuters) - Esprinet's (PRT.MI) banks, led by Intesa Sanpaolo (ISP.MI), have agreed to relax terms of nearly 141 million euros ($183 million) of senior debt, the IT and consumer electronics wholesaler said on Tuesday.

In exchange, Esprinet will pay a fee of 750,000 euros ($973,400), representing 0.45 percent of outstanding senior debt, and up to 70 basis points more in interest, it said. The senior debt is payable in 2014.

The shares, which have lost about 42 percent in the last 12 months, were up 4 percent at 3.49 euros at 1019 GMT in a lower overall market .MIBTEL. ($1=.7705 Euro)

(Reporting by Danilo Masoni; Editing by Erica Billingham)