Astaldi S.p.A. informs that on 19 October 2020 it signed with a banking syndicate, consisting of Banca Monte dei Paschi di Siena S.p.A., Banco BPM S.p.A., BNP Paribas, Italian Branch, Intesa Sanpaolo S.p.A. and Unicredit S.p.A. (the “Institutes”), an unsecured loan agreement (the “RCF Agreement”) according to which the Institutes have undertaken, subject to the occurrence of certain conditions precedent, to provide and make available to Astaldi S.p.A. a revolving cash facility for a total amount of EUR 200,000,000 (the “200-RCF”), pre-deductible pursuant to article 182-quater, first subsection, and article 111, of the Italian Insolvency Law. This RCF may be used, following the date of the composition approval and implementation of the capital increase reserved for Webuild S.p.A., to finance Astaldi’s routine corporate operations and allow the repayment of the bond portion still to be repaid (i.e. the bond loan subscribed by Beyond and illimity).
This new RCF represents a so-called unsecured loan, in other words a loan not secured by collaterals on the Issuer’s or its subsidiaries’ assets. The RCF will be secured by a first-demand autonomous guarantee to be issued by Webuild S.p.A., subject to the subscription by Webuild S.p.A. of the capital increase reserved for it.
The signing of the RCF Agreement – based on terms and conditions consistent with those contained in the commitment letter underwritten by the same Institutes on 2 August 2019 - represents one of the pillars planned in the integrated capital and financial strengthening plan underlying the Composition Plan and Proposal finally approved by the Court of Rome with its decree published on 17 July 2020.