TerniEnergia, a company active in the renewable energy sectors, energy efficiency and waste management, listed on Star Segment of Borsa Italiana, announces that on February 4th, 2014, the bond “TerniEnergia 2019” (ISIN: IT0004991573), the issuance of which was approved by the Board of Directors last January 27, was admitted to trading on ExtraMOT PRO market, managed by the Borsa Italiana.
Stefano Neri, Chairman and CEO of TerniEnergia, commented:
“The operation, which ended brilliantly with the total subscription of the issue, is a further action of an operating plan aimed to integrate the Group’s financial structure, in parallel with the draft partnership with the constituting Fund RA – Renewable Assets. The bond will optimize the timing and balance of the debt, extending maturities from short to medium-long term, including through a reduction of the exposure to credit institutions, and increasing the cash and financial flexibility. TerniEnergia, thanks to the “corporate” loan agreement, signed with Veneto Banca, and the bond issue, considers passed the draft medium-term syndicated loan presented to a syndicate of lenders. We express our full satisfaction for the credibility received dealing with investors, which allowed the placement of the bonds in the short term in a very difficult time to have access to credit. TerniEnergia’s strategy of growth and internationalization in a segment of great interest as that of the green industry, have allowed our Group an effectual access to the capital market as a source of alternative financing to traditional banking channel“.
The issuance of Euro 25 million, five-year fixed rate equal to 6.875% with a gross annual postponed coupon, was signed and fully placed by the Sole Lead Manager, JCI Capital Limited Investment & Asset Management, to institutional investors.
From February 6th, 2014 the bonds may be traded on the market ExtraMOT PRO, the professional segment of the ExtraMOT market managed by the Italian Stock Exchange and dedicated to the listing of bonds, finance bills, equity instruments and project bonds.
The fund raising will be used to the full development of the company’s business and to support the industrial strategy that envisages a significant strengthening of international revenue growth, a steady operating margins and a rising generation of value for shareholders, as well as a rationalization of the financial structure through a reduction of the debt.
TerniEnergia availed JCI Capital Investment & Asset Management Limited as Sole Lead Manager of the operation and the Law Firm Orrick as Legal Advisor.
