Rome, 1 July 2016 – Astaldi is pleased to announce that it has reached an agreement to adjust the terms of the covenants associated with a EUR 500m revolving credit facility that was extended to the Group by a syndicate of banks. The new agreement covers the remainder of the credit facility’s duration, for the period through 2019.
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Renegotiating the covenant terms was one of Astaldi's main goals as set out in the Group's 2016-20 Strategy Plan "Fit for the Future": the new covenants have been defined in accordance with a principle of consistency with the Group’s expected development plans, and are set to higher ratio levels than those established when the facility was originally put in place (in November 2014) in order to guarantee the flexibility needed for the new business planning cycle.
The agreement will be formalised in the days to come, after the contract is signed.
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