CENTRALE DEL LATTE D’ITALIA S.p.A.: the Board of Directors resolves to issue bonds for up to € 15 million
The Board of Directors of Centrale del Latte d’Italia S.p.A. (“CLI”) – a company listed, since 2001, on the STAR segment of Borsa Italiana and currently the third-ranking Italian player in the fresh and long-life milk market, with leadership positions in Piemonte, Liguria, Tuscany and Veneto – today approved, pursuant to art. 2410 of the Italian Civil Code, the issue of bonds for a maximum aggregate nominal amount of € 15 million, falling due in 2024. CLI will present the request for admission to trading the bonds on the Professional Segment of EXTRAMOT market of Borsa Italiana S.p.A..
The Chairman of CLI, Cav. Luigi Luzzati commented: “With this operation, for the first time Centrale del Latte d’Italia will issue bonds that, after the admission to listing on the EXTRAMOT PRO market of Borsa Italiana, will help to strength the Company’s visibility on the capital market, demonstrating its ability to operate in a structured manner”.
The Company will use the revenue deriving from the placement of the bonds to fully develop its business activities and to support its industrial strategy, mainly by improving the production process, developing the business plan and strengthening business also internationally.
The main terms and conditions of the bonds are shown below:
| Name: | Centrale del Latte d’Italia S.p.A. –Variable Interest Rate – 2017/2024; |
| Maximum Aggregate Amount: | € 15 million; |
| Lot and amounts: | bonds, issued in electronic format, in non-divisible amounts of € 100 thousand each; |
| Subscription and circulation: | the subscription – and subsequent circulation – of the bonds will be reserved for professional investors; |
| Date of issue: | by the end of December 2017; |
| Maturity date: | by the end of December 2024; |
| Interest: | the bonds will bear interest at a variable 6-month Euribor rate plus 3.25% per year; |
| Payment of interest: | deferred half-yearly instalments. |
The documentation concerning the bond issue, including the minutes of the board meeting that resolved upon the issue will be made available at the company’s headquarters and on the website www.centralelatteitalia.com in the Investor Relations section according to the terms provided for by the regulations in force.
With 5 factories and some 450 employees, the Centrale del Latte d’Italia Group produces and sells more than 120 products, ranging from milk and milk products to yogurt, drinks of plant origin and fresh salads, distributed in over 16,000 points of sale in the pertinent areas under the brand names TappoRosso, Mukki, Tigullio and Vicenza and sold both in traditional shops and large retail chains.
Contacts: Barabino & Partners
Donata Astengo
e-mail: d.astengo@barabino.it
Tel. 010.272.50.48
Mob. 349.77.25.787