Cir: potential early redemption of bond 2004/2024

Milan, January 3 2014 – CIR S.p.A. informed the Trustee of the 2004/2024 Bond issued by the company on 16/12/2004 (ISIN XS0207766170), of which an amount of € 259 million is currently outstanding, to be ready to redeem the bond early if requested to do so by the same Trustee, in accordance with the terms and conditions of the bond. Such early redemption may be requested by the Trustee following the occurrence of an event of default under such terms and conditions as a result of the suspension by Sorgenia S.p.A. (a subsidiary of the Company) of payment of capital instalments and interest due under loans granted by several financial institutions.

Such event does not, however, affect CIR S.p.A.’s net financial position. Furthermore, even after an early redemption of the bond CIR S.p.A. would still have liquidity available at holding company level.


Download pdf