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Maire Tecnimont SpA Signs Contracts for Debt Rescheduling and New Financing; Calles Extraordinary Shareholders' Meeting to Resolve Upon Capital Increase


Wednesday, 8 May 2013 01:27am EDT 

Maire Tecnimont SpA announced that in the framework of the financial re-organisation project already announced to the market on April 8, 2013 – contracts have been stipulated with the Group lending banks, i.e. Intesa Sanpaolo (with Banca IMI as bank arranger), UniCredit, Banca Monte dei Paschi di Siena, Cassa di Risparmio di Parma e Piacenza, Gruppo UBI, Santander and BBVA. The agreements provide, each on the terms and conditions set forth in the relevant contractual documents, for the rescheduling in five years, with a grace period of two years, and the repayment by half-year instalments, the last of which due on December 31, 2017, of the outstanding debt for EUR 307 million in total, as well as for the granting – by Intesa San Paolo, UniCredit, Banca Monte dei Paschi di Siena – of new financing for a total of EUR 50 million, subject to the capital increase transactions. The agreements also confirm, in favour of the Group, the credit lines for the total amount of EUR 245 million and the guarantees for EUR 765 million in total, issued by the same banks. Advisors for Maire Tecnimont are Leonardo & Co, NCTM Studio Legale and CBA Studio Legale e Tributario, while for the banks is Clifford Chance. The Company also announced that the extraordinary shareholders’ meeting has been called for June 6, 2013 on first call, and June 7, 2013 on second call, to resolve upon the proposals of capital increase for EUR 150 million in total. 

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